§ 91-15-1. Citation of chapter
This chapter may be cited as the “release of power of appointment law.”
§ 91-15-11. Right of release not exclusive
The rights and means provided in this chapter for the release of a power are not exclusive, but are in addition to all other rights and means of a donee to release a power in whole or in part.
§ 91-15-13. Delivery of release as notice
Any fiduciary or other person, association, or corporation having the possession or control of any property subject to a power of appointment shall be deemed to have notice of a release of the power when the original or a copy of the release is delivered to such fiduciary or other person, association, or corporation.
§ 91-15-15. Recordation as notice
Any purchaser or mortgagee of real property subject to a power of appointment, who is without actual notice, shall be deemed to have notice of a release of the power when the original or duplicate original is filed for record in the chancery clerk’s office in the county and judicial district thereof in which the […]
§ 91-15-17. Manner of recording release
Clerks of chancery courts are authorized and directed to record releases of powers of appointment in the books provided for the recordation of deeds, to index the same in the current and general indexes, the name of the donee being entered on the grantor index, and to charge therefor at the rate applicable to deeds.
§ 91-15-19. Release not invalid for failure to comply with certain sections
No release shall be invalid or ineffective because of failure to comply with either Section 91-15-13 or Section 91-15-15.
§ 91-15-21. Controlling effect of chapter
In so far as the provisions of this chapter may conflict with other laws or parts thereof, the provisions of this chapter shall control.
§ 91-15-3. Definitions
When used in this chapter, unless the context otherwise requires: “Power” includes any power to appoint or designate to whom property shall go, any power to invade property, any power to alter, amend, or revoke any instrument under which an estate or trust is held or created or to terminate any right or interest thereunder, […]
§ 91-15-5. Right to release
Unless the instrument creating the power specifically provides to the contrary, the donee of a power, whether now existing or hereafter created, may: At any time completely release his power. At any time or times release his power: (one) as to any property which is subject thereto; (two) as to any one or more of […]
§ 91-15-7. Manner of effecting release
A release of a power, whether partial or complete, shall be valid and effective with or without a consideration when the donee executes an instrument evidencing an intent to make the release, signed and acknowledged in the manner prescribed for the execution of deeds, and delivers the instrument or causes it to be delivered, either: […]
§ 91-15-9. Release heretofore made
A release of a power executed prior to April 10, 1946, shall have the same effect as if this chapter had been in effect at the time the release was executed and delivered.