Code of Virginia (Last Updated:July 28, 2020) |
TITLE 64.2. Wills, Trusts, and Fiduciaries |
SUBTITLE V. Provisions Applicable to Probate and Nonprobate Transfers |
CHAPTER 27. Uniform Powers of Appointment Act |
ARTICLE 3. Exercise of Power of Appointment |
SECTION 64.2-2716. Substantial compliance with donor-imposed formal requirement |
A powerholder's substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if: 1. The powerholder knows of and intends to exercise the power; and 2. The powerholder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement. 2016, c. 266 . |