                                 CODE OF VIRGINIA

DISPOSITION OF UNAPPOINTED PROPERTY UNDER RELEASED OR UNEXERCISED GENERAL POWER
(§ 64.2-2722)

To the extent that a powerholder releases or fails to exercise a general power
of appointment other than a power to withdraw property from, revoke, or amend a
trust:

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

2. If there is no gift-in-default clause or to the extent that the clause is
ineffective:
			a. Except as otherwise provided in subdivision 2 b, the unappointed property
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. To the extent that the powerholder released the power, or if there is
   no taker under subdivision 2 a, the unappointed property passes under a
   reversionary interest to the donor or the donor&#8217;s transferee or
   successor in interest.

HISTORY: 2016, c. 266.