§ 31D-1-104 – Common law and principles of equity.
31D-1-104. Common law and principles of equity. The common law and principles of equity supplement this Chapter, except to the extent modified by this Chapter or another statute of this State. (2015-205, s. 3(a).)
§ 31D-2-201 – Creation of power of appointment.
31D-2-201. Creation of power of appointment. (a) A power of appointment is created only if all of the following apply: (1) The instrument creating the power is valid under applicable law. (2) Repealed by Session Laws 2021-53, s. 4.1, effective June 25, 2021. (3) The terms of the instrument creating the power manifest the donor’s […]
§ 31D-2-202 – Nontransferability.
31D-2-202. Nontransferability. A power holder may not transfer a power of appointment. If a power holder dies without exercising or releasing a power, the power lapses. (2015-205, s. 3(a).)
§ 31D-2-203 – Presumption of unlimited authority.
31D-2-203. Presumption of unlimited authority. Subject to the provisions of G.S. 31D-2-205, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is all of the following: (1) Presently exercisable. (2) Exclusionary. (3) Except as otherwise provided in G.S. 31D-2-204, general. (2015-205, s. 3(a).)
§ 31D-2-204 – Exception to presumption of unlimited authority.
31D-2-204. Exception to presumption of unlimited authority. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if both of the following apply: (1) The power is exercisable only at the power holder’s death. (2) The permissible appointees of the power are a defined and limited […]
§ 31D-2-205 – Rules of classification.
31D-2-205. Rules of classification. (a) In this section, the term "adverse party" means a person with a substantial beneficial interest in property who would be affected adversely by a power holder’s exercise or nonexercise of a power of appointment in favor of the power holder, the power holder’s estate, a creditor of the power holder, […]
§ 31D-2-206 – Power to revoke or amend.
31D-2-206. Power to revoke or amend. A donor may revoke or amend a power of appointment only to the extent that either of the following apply: (1) The instrument creating the power is revocable by the donor. (2) The donor reserves a power of revocation or amendment in the instrument creating the power of appointment. […]
§ 31D-1-101 – Short title.
31D-1-101. Short title. This Chapter may be cited as the North Carolina Uniform Powers of Appointment Act. (2015-205, s. 3(a).)
§ 31D-1-102 – Definitions.
31D-1-102. Definitions. The following definitions apply in this Chapter: (1) "Appointee" means a person to whom a power holder makes an appointment of appointive property. (2) "Appointive property" means the property or property interest subject to a power of appointment. (3) "Blanket-exercise clause" means a clause in an instrument which exercises a power of appointment […]
§ 31D-1-103 – Governing law.
31D-1-103. Governing law. (a) The creation, revocation, or amendment of the power of appointment is governed by either of the following: (1) The law of the jurisdiction designated in the terms of the instrument creating the power. (2) If no jurisdiction’s law is designated in the terms of the instrument creating the power or if […]