Power Of Appointment

Legal Definition and Related Resources of Power Of Appointment

Meaning of Power Of Appointment

A liberty or authority reserved by or limited or granted to a person who is not the owner of property by the terms of which he may designate the transferees of property or designate the shares in which it is to be received by the appointee. An authority enabling one person to dispose of the interest which is vested in another. See Re Lidston, 32 Wash.2d 408, 202 P.2d259. A power of appointment may be either general or special or limited. General where the donee of the power may appoint the property to anyone including himself or to his estate . there is no limitation in such power as to its exercise except as to manner of exercise. See O’Hara v O’Hara, 185 Md. 321, 44 A.2d813. Special when the power restricts the passing of the property to certain specified individuals or to a specific class of individuals or to any beneficiaries except those specifically excluded or in which the donee can exercise the power only for certain named purposes or under certain conditions. See Fidelity-Philadelphia trust Co. v McCaughn, (C.A.3)34 F.2d 600; Wachovia Bank and Trust Co. v Hunt, 267 N.C. 173, 148 S.E.2d41.Whether or not a power of appointment amounts to a property interest depends upon facts of the case and the purpose for which the power is granted. See Re Estate of Wylie, (Fla.App.) 342 So.2d 996.

Related Entries of Power Of Appointment in the Encyclopedia of Law Project

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Power Of Appointment in Historical Law

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Legal Abbreviations and Acronyms

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Related Legal Terms

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Mentioned in these terms

Appointment, Power Of, Limited Power Of Appointment, Power.






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