State Codes and Statutes

Statutes > New-york > Ept > Article-10 > Part-6 > 10-6-7

§ 10-6.7 Exercise by all donees; exceptions    Whenever  a power of appointment is created in two or more donees, all  must unite in its exercise, unless the instrument  creating  such  power  provides  otherwise.   But, if before its execution, one or more of such  donees dies or becomes incompetent, such power may be exercised  by  the  survivor  or  the  competent  donee,  unless such exercise is explicitly  barred by the terms of the instrument creating such power.

State Codes and Statutes

Statutes > New-york > Ept > Article-10 > Part-6 > 10-6-7

§ 10-6.7 Exercise by all donees; exceptions    Whenever  a power of appointment is created in two or more donees, all  must unite in its exercise, unless the instrument  creating  such  power  provides  otherwise.   But, if before its execution, one or more of such  donees dies or becomes incompetent, such power may be exercised  by  the  survivor  or  the  competent  donee,  unless such exercise is explicitly  barred by the terms of the instrument creating such power.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Ept > Article-10 > Part-6 > 10-6-7

§ 10-6.7 Exercise by all donees; exceptions    Whenever  a power of appointment is created in two or more donees, all  must unite in its exercise, unless the instrument  creating  such  power  provides  otherwise.   But, if before its execution, one or more of such  donees dies or becomes incompetent, such power may be exercised  by  the  survivor  or  the  competent  donee,  unless such exercise is explicitly  barred by the terms of the instrument creating such power.