EPTL 10-6.2 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 10-6.1 Exercise of a power of appointment; manifestation of intention up PART 6 Rules Governing Exercise of a Power of Appointment next SECTION 10-6.3 Exercise of a power of appointment; type of instrument Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 10-6.2 Exercise of a power of appointment; conformity to directions of Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 10, PART 6 § 10-6.2 Exercise of a power of appointment; conformity to directions of donor (a) Subject to the power of a court of competent jurisdiction to remedy a defective execution of an imperative power of appointment, the directions of the donor as to the manner, time and conditions of the exercise of a power must be observed, except that: (1) Where the donor has authorized it to be exercised by an instrument legally insufficient to dispose of the appointive property, the manner of exercise is to be determined by the provisions of this article. (2) Where the donor has directed any formality to be observed in its exercise, in addition to those which would be legally sufficient to dispose of the appointive property, such additional formality is not necessary to a valid exercise of such power. (3) Where the donor has made the power exercisable only by deed, it is also exercisable by a written will unless exercise by will is expressly excluded. (4) Where the donor of a general power of appointment has not expressly imposed a requirement of good faith or of reasonableness with respect to the donee's exercise of such power, neither such requirement shall be implied.