O.C.G.A.

O.C.G.A. § 23-2-119 (2019)

When fiduciaries or bona fide purchasers affected by release, relinquishment, or covenant as to exercise of power of appointment

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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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.

History

Ga. L. 1945, p. 340, § 3.

Annotations

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