                                 CODE OF VIRGINIA

CAPTURE DOCTRINE; DISPOSITION OF INEFFECTIVELY APPOINTED PROPERTY UNDER GENERAL
POWER (§ 64.2-2721)

To the extent that a powerholder of a general power of appointment, other than a
power to withdraw property from, revoke, or amend a trust, makes an ineffective
appointment:

1. The gift-in-default clause controls the disposition of the ineffectively
appointed property; or

2. If there is no gift-in-default clause or to the extent that the clause is
ineffective, the ineffectively appointed property:
			a. Passes to:

   1. The powerholder if the powerholder is a permissible appointee and living;
   or

   2. If the powerholder is an impermissible appointee or deceased, the
   powerholder&#8217;s estate if the estate is a permissible appointee; or
   				b. If there is no taker under subdivision 2 a, passes under a reversionary
   interest to the donor or the donor&#8217;s transferee or successor in
   interest.

HISTORY: 2016, c. 266.