Code of Virginia § 64.2-2715. Intent to exercise; after-acquired power.
77 words·~1 min read·
/va/title-64-2/chapter-27/64-2-2715A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:
1. Except as otherwise provided in subdivision 2, a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and
2. If the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or the gift-in-default clause is ineffective.
2016, c. 266 .