A powerholder may revoke or amend an exercise of a power of appointment only to the extent that:
A. the powerholder reserves a power of revocation or amendment in the instrument exercising the power of appointment and, if the power is nongeneral, the terms of the instrument creating the power of appointment do not prohibit the reservation; or
B. the terms of the instrument creating the power of appointment provide that the exercise is revocable or amendable.
History: Laws 2016, ch. 69, § 314.
Effective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
Structure New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 11 - Uniform Powers of Appointment
Article 3 - EXERCISE OF POWER OF APPOINTMENT
Section 46-11-301 - Requisites for exercise of power of appointment.
Section 46-11-302 - Intent to exercise; determining intent from residuary clause.
Section 46-11-303 - Intent to exercise; after-acquired power.
Section 46-11-304 - Substantial compliance with donor-imposed formal requirement.
Section 46-11-305 - Permissible appointment.
Section 46-11-306 - Appointment to deceased appointee or permissible appointee's descendant.
Section 46-11-307 - Impermissible appointment.
Section 46-11-308 - Selective allocation doctrine.
Section 46-11-310 - Disposition of unappointed property under released or unexercised general power.
Section 46-11-312 - Disposition of unappointed property if partial appointment to taker in default.
Section 46-11-313 - Appointment to taker in default.
Section 46-11-314 - Powerholder's authority to revoke or amend exercise.