Powers, especially of appointment, being always founded on trust or confidence, are peculiarly subjects of equitable supervision. History. Orig. Code 1863, § 3097; Code 1868, § 3109; Code 1873, § 3166; Code 1882, § 3166; Civil Code 1895, § 4017; Civil Code 1910, § 4614; Code 1933, § 37-601.
Equity may not compel a party, having a discretion, to exercise a power of appointment. History. Orig. Code 1863, § 3098; Code 1868, § 3110; Code 1873, § 3167; Code 1882, § 3167; Civil Code 1895, § 4018; Civil Code 1910, § 4615; Code 1933, § 37-602.
In all cases where no discretion is allowed or the discretion allowed is abused, equity may compel a faithful execution of the power. History. Orig. Code 1863, § 3102; Code 1868, § 3114; Code 1873, § 3171; Code 1882, § 3171; Civil Code 1895, § 4022; Civil Code 1910, § 4619; Code 1933, § 37-606.
As used in this Code section, the term: “Collusive execution” means every execution whereby the person exercising a power uses it by contrivance for his own benefit, he not being legitimately an intended beneficiary. “Illusory appointment” means an appointment whereby a nominal benefit only is given to one of a class, to all of whom […]
Powers of sale in deeds of trust, mortgages, and other instruments shall be strictly construed and shall be fairly exercised. In the absence of stipulations to the contrary in the instrument, the time, place, and manner of sale shall be that pointed out for public sales. Unless the instrument creating the power specifically provides to […]
Unless expressly limited in a will, deed, or other instrument creating a power of sale or unless specifically otherwise provided in such instrument, a power of sale conferred upon an executor, trustee, guardian, or attorney in fact shall authorize a private sale by the executor, trustee, guardian, or attorney in fact, with or without advertisement […]
Unless expressly limited in an instrument creating a power of sale or unless specifically otherwise provided in the instrument, the power of sale conferred upon an executor, trustee, or guardian may be exercised and executed by an administrator with the will annexed or by a successor administrator, trustee, or guardian. If the power is conferred […]
Any person holding a power of appointment, general or special, whether exercisable by deed or by will only or otherwise, and whether reserved by the holder of the power or conferred upon him by another, may, as to all or any part of the property covered by the power of appointment, release or relinquish the […]
Any release, relinquishment, or covenant referred to in Code Section 23-2-117 shall be in writing, signed by the person holding the power, and delivered to anyone interested in the power, including any person in the limited class, or to any fiduciary holding the property or any part thereof, or recorded in the office of the […]
No fiduciary holding or distributing any property subject to a power of appointment as referred to in Code Section 23-2-117 shall be deemed to have notice of the release, relinquishment, or covenant or be bound thereby unless and until a copy thereof is delivered to the fiduciary. No bona fide purchaser purchasing the property shall […]
Code Sections 23-2-117 through 23-2-119 are declaratory of existing law and apply to all such releases, relinquishments, and covenants, whenever executed. History. Ga. L. 1945, p. 340, § 4.
