Legal Definition and Related Resources of Appointment, Power Of
Meaning of Appointment, Power Of
A power created or reserved by a person having property subject to his disposition , enabling the donee of the power to designate , within such limits as the donor may prescribe , the transferees of the property or the shares in which it shall be received. See Restatement, Property section 318. Sometimes said that power of appointment is a personal privilege and not an interest in property. See Mastin v merchant Nat. Bank, 278 Ala. 261, 177 So.2d 817. An authority enabling one person to dispose of an interest which is vested in another. A power of appointment may be either general or special. A general power of appointment is one where the donee of the power may appoint the property to anyone, including himself or his estate . Such a power gives the donee an absolute power of disposition over the estate. A special power of appointment is one where the power is restricted in such a way that it may be exercised only in favor of certain specified individuals or to a special class of individuals or only for certain named purposes or under certain conditions. A power is special if it can be exercised only in favor of persons, not including the donee, who constitute a group not unreasonably large, and the donor does not manifest an intent to create or reserve the power primarily for the benefit of the donee. See Restatement, Property section 320.
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Appointment, Power Of in Historical Law
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Legal Abbreviations and Acronyms
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