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A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:
1. Is also the donor of the power; and
2. Has reserved the power in a revocable trust.
Cite this article: FindLaw.com - Virginia Code Title 64.2. Wills, Trusts, and Fiduciaries § 64.2-2733. Power to contract; power of appointment not presently exercisable - last updated January 01, 2020 | https://codes.findlaw.com/va/title-64-2-wills-trusts-and-fiduciaries/va-code-sect-64-2-2733/
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