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Current as of January 01, 2021 | Updated by FindLaw Staff
(a) A power of appointment is:
(1) general or special.
(2) exclusive or non-exclusive.
(b) A power of appointment is general to the extent that it is exercisable wholly in favor of the donee, his estate, his creditors or the creditors of his estate.
(c) All other powers of appointment are special.
(d) A special power of appointment is exclusive if it may be exercised in favor of one or more of the appointees to the exclusion of the others.
(e) A special power of appointment is non-exclusive if it must be exercised in favor of all the appointees.
Cite this article: FindLaw.com - New York Consolidated Laws, Estates, Powers and Trusts Law - EPT § 10-3.2 Classification of powers of appointment as to kind; general and special; exclusive and non-exclusive - last updated January 01, 2021 | https://codes.findlaw.com/ny/estates-powers-and-trusts-law/ept-sect-10-3-2/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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