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O.C.G.A. § 23-2-119 — Release, relinquishment, or covenant as to exercise of power of appointment - When fiduciaries or bona fide purchasers affected | Georgia Code

O.C.G.A. § 23-2-119 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 23 EQUITY

Section 2. Grounds for Equitable Relief, 23-2-1 through 23-2-136.

ARTICLE 6 EXERCISE OF POWERS OF APPOINTMENT AND SALE

23-2-119. Release, relinquishment, or covenant as to exercise of power of appointment - When fiduciaries or bona fide purchasers affected.

No fiduciary holding or distributing any property subject to a power of appointment as referred to in Code Section 23-2-117 shall be deemed to have notice of the release, relinquishment, or covenant or be bound thereby unless and until a copy thereof is delivered to the fiduciary. No bona fide purchaser purchasing the property shall be affected by the release, relinquishment, or covenant unless he has notice thereof or unless the release, relinquishment, or covenant has been recorded in the office of the clerk of the superior court of the county in which the property is located.

(Ga. L. 1945, p. 340, § 3.)

RESEARCH REFERENCES

ALR.

- Nonexclusive powers and illusory appointments, 100 A.L.R. 343.

Validity of exercise of power of appointment as affected by purpose, request, agreement, or condition that appointee benefit, or knowledge that he intends to benefit, one not an object of the power, 115 A.L.R. 930.

Power to appoint realty in fee or personalty absolutely as including power to appoint lesser estate or interest, 94 A.L.R.3d 895.

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This Georgia Code resource is curated by this site's author, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.