Pennsylvania § 7603 - Contract to exercise power.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 7603 — Contract to exercise power., with citation guidance and answers to common questions.
§ 7603. Contract to exercise power.
(a) Contract prohibited.--Unless the donor and donee are the same person, the donee of a power of appointment that is not presently exercisable may not contract to exercise the power.
(b) Actions for recovery.--A prohibited contract under subsection (a), if made, may not be the basis of an action for specific performance or damages, but the promisee can obtain restitution from the donee of the value given for the promise, unless the donee has exercised the power pursuant to the contract.
(c) No limitation on disclaimer or release.--This section does not limit the power of a donee to disclaim or release a power of appointment in whole or in part.
Frequently Asked Questions About Pennsylvania § 7603
What does Pennsylvania Consolidated Statutes § 7603 cover?
Section 7603 ("Contract to exercise power.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 7603?
A common citation format is "Pennsylvania Consolidated Statutes § 7603" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 7603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.