Chapter 802f

Sec. 45a-569. (Formerly Sec. 45-121). Method of release. Not valid as to land unless recorded. (a) A power releasable according to section 45a-568 may be released, wholly or partially, by the delivery of a written release executed by the donee of the power, for consideration or under seal, to any person who could be adversely affected by the exercise of the power, or to any person who, alone or with another or others, holds in trust property subject to the power, or, in the case of a power created by will, by the filing of such release in the court of probate in which the will was proved or allowed.

(b) A release of a power of appointment shall not be valid as to land in the state subject to such power, except as against the releasor and persons having actual notice of the release, unless (1) in case of a power created by will or other written instrument, the release is acknowledged in the manner required in the case of deeds of land to entitle them to be recorded and is recorded in the land records of the town in which the land lies or (2) in case of a power created by will, the release is filed in the probate court in which the will was proved or allowed.

(1949 Rev., S. 6910; P.A. 80-476, S. 336.)

History: P.A. 80-476 divided section into Subsecs., replaced alphabetic Subdivs. with numeric Subdivs. and made minor wording changes; Sec. 45-121 transferred to Sec. 45a-569 in 1991.

Sec. 45a-570. (Formerly Sec. 45-122). Extent of release. A release executed by the donee of a power releasable according to section 45a-568, and delivered or filed in accordance with section 45a-569, shall be effective to release the power to the extent provided in such release.

(1949 Rev., S. 6911; P.A. 80-476, S. 337.)

History: P.A. 80-476 made no substantive change; Sec. 45-122 transferred to Sec. 45a-570 in 1991.

Sec. 45a-571. (Formerly Sec. 45-123). Effect of release of one donee upon other donees. If a power of appointment releasable according to section 45a-568 is or may be exercisable by two or more persons in conjunction with one another or successively, a release or disclaimer of the power, in whole or in part, executed and delivered or filed, in accordance with section 45a-569, by any one of the donees of the power, shall, subject to the provisions of section 45a-569, be effective to release or disclaim, to the extent therein provided, all right of such person to exercise, or to participate in the exercise of, the power, but, unless the instrument creating the power otherwise provides, shall not prevent or limit the exercise or participation in the exercise thereof by the other donee or donees thereof.

(1949 Rev., S. 6912; P.A. 80-476, S. 338.)

History: P.A. 80-476 made no substantive change; Sec. 45-123 transferred to Sec. 45a-571 in 1991.

Sec. 45a-572. (Formerly Sec. 45-123a). Exercise in favor of further power. (a) Except to the extent otherwise expressly provided in the instrument creating the power, the donee of a power of appointment over any trust may appoint all or any part of the property subject to such power in further trust and may create further special powers of appointment. Where the donee of the original power could have appointed the property outright to the donee of the further power, any restrictions on the class of permissible appointees imposed by the donor of the original power shall lapse with the exercise of such power. The trustee of any trust the property of which is so appointed shall transfer and pay over such appointed property to the trustee designated by the donee, to be administered subject to the jurisdiction of any court having jurisdiction over the trust to which such property is appointed.

(b) Nothing contained in this section shall be construed to permit the creation of any interest which violates the rule against perpetuities.

(P.A. 76-425, S. 1–4; P.A. 80-476, S. 339.)

History: P.A. 80-476 corrected spelling errors; Sec. 45-123a transferred to Sec. 45a-572 in 1991.

Sec. 45a-573. Exercise of power of appointment of property. The donee of a power to appoint property to anyone other than his estate shall not have the power to appoint property to himself, his estate, his creditors or the creditors of his estate, but may appoint to anyone not expressly excluded from the class of permissible appointees.

(P.A. 92-73, S. 1.)

Sec. 45a-573a. Applicability of power of appointment of property. The provisions of section 45a-573 shall apply to all wills and trusts, regardless of the testator's date of death or the date the will or trust was executed, unless (1) the power of appointment expressly includes the power to appoint to the donee, his estate, his creditors or the creditors of his estate, (2) distribution of the estate under the will or trust instrument has been or will be made pursuant to a court order entered before October 1, 1992, or (3) a contrary intention of the donor is demonstrated by clear and convincing evidence.

(P.A. 92-73, S. 2.)

Sec. 45a-573b. Liability of fiduciary, distributee or appointee re exercise of power of appointment of property. No fiduciary, no distributee of an estate nor any appointee shall be liable to any other person for any action taken or benefit received before October 1, 1992, which concerns the construction of the power to appoint property to anyone other than the estate of the donee, provided such action was taken by such fiduciary or such benefit was received by such distributee or appointee in good faith.

(P.A. 92-73, S. 3.)

Secs. 45a-574 to 45a-577. Reserved for future use.