CHAPTER 702
UNIFORM POWERS OF APPOINTMENT ACT
SUBCHAPTER I
GENERAL PROVISIONS
702.104 Common law and principles of equity.
SUBCHAPTER II
CREATION, REVOCATION, AND AMENDMENT
OF POWER OF APPOINTMENT
702.201 Creation of power of appointment.
702.202 Nontransferability.
702.203 Presumption of unlimited authority.
702.204 Exception to presumption of unlimited authority.
702.205 Rules of classification.
702.206 Power to revoke or amend.
SUBCHAPTER III
EXERCISE OF POWER OF APPOINTMENT
702.301 Requisites for exercise of power of appointment.
702.302 Intent to exercise: determining intent from residuary clause.
702.303 Intent to exercise: after-acquired power.
702.304 Substantial compliance with donor-imposed formal requirement.
702.305 Permissible appointment.
702.306 Appointment to a deceased appointee.
702.307 Impermissible appointment.
702.308 Selective allocation doctrine.
702.309 Capture doctrine: disposition of ineffectively appointed property under general power.
702.310 Disposition of unappointed property under released or unexercised general power.
702.311 Disposition of unappointed property under released or unexercised nongeneral power of appointment.
702.312 Disposition of unappointed property if partial appointment to taker in default.
702.313 Appointment to taker in default.
702.314 Powerholder's authority to revoke or amend exercise.
702.315 Presumption of nonexercise of a power of appointment.
SUBCHAPTER IV
DISCLAIMER OR RELEASE; CONTRACT
TO APPOINT OR NOT TO APPOINT
702.402 Authority to release.
702.403 Method of release.
702.404 Revocation of amendment of release.
702.405 Power to contract: presently exercisable power of appointment.
702.406 Power to contract: power of appointment not presently exercisable.
702.407 Remedy for breach of contract to appoint or not to appoint.
SUBCHAPTER V
RIGHTS OF POWERHOLDER'S CREDITORS
IN APPOINTIVE PROPERTY
702.501 Creditor claim: general power created by powerholder.
702.502 Creditor claim: general power not created by powerholder.
702.503 Power to withdraw.
702.504 Creditor claim: nongeneral power of appointment.
702.505 Third parties in good faith protected.
SUBCHAPTER VI
MISCELLANEOUS PROVISIONS
702.601 Recording instruments relating to a power of appointment.
702.602 Uniformity of application and construction.
702.603 Relation to electronic signatures in global and national commerce act.
GENERAL PROVISIONS
702.101
702.101
Short title. This act may be cited as the Uniform Powers of Appointment Act.
702.101 History
History: 2023 a. 127.
702.102
702.102
Definitions. In this chapter:
702.102(1)
(1) “Appointee” means a person to which a powerholder makes an appointment of appointive property.
702.102(2)
(2) “Appointive property” means the property or property interest subject to a power of appointment.
702.102(3)
(3) “Blanket-exercise clause” means a clause in an instrument that exercises a power of appointment and is not a specific-exercise clause. “Blanket-exercise clause” includes a clause that does any of the following:
702.102(3)(a)
(a) Expressly uses the words “any power” in exercising a power of appointment the powerholder has.
702.102(3)(b)
(b) Expressly uses the words “any property” in appointing any property over which a powerholder has a power of appointment.
702.102(3)(c)
(c) Disposes of all property subject to disposition by the powerholder.
702.102(4)
(4) “Broad limited power of appointment” means a power of appointment exercisable in favor of anyone other than the powerholder, the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.
702.102(5)
(5) “Donor” means a person that creates a power of appointment.
702.102(6)
(6) “Exclusionary power of appointment” means a power of appointment exercisable in favor of one or more permissible appointees to the exclusion of the other permissible appointees.
702.102(7)
(7) “General power of appointment” means a power of appointment exercisable in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
