Wisconsin § 702.201 - Creation of power of appointment.

§ 702.201. Creation of power of appointment.

702.201(1) (1) A power of appointment is created only if the instrument creating the power satisfies all of the following: 702.201(1)(a) (a) The instrument is valid under applicable law. 702.201(1)(b) (b) Except as provided in sub. (2) , the instrument governs the disposition of the appointive property. 702.201(1)(c) (c) The terms of the instrument manifest the donor’s intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee. 702.201(2) (2) Subsection (1) (b) does not apply to a power of appointment that is created by the exercise of a power of appointment. 702.201(3) (3) A power of appointment may not be created in a deceased individual. 702.201(4) (4) A power of appointment may be created in an unborn or unascertained powerholder. 702.201 History History: 2023 a. 127 . 702.201 Annotation A warranty deed grants a present fee simple interest. A purported reservation of a power of appointment in a warranty deed is ineffective. Powers may be reserved and a lesser interest granted, but not by warranty deed. Lucareli v. Lucareli, 2000 WI App 133 , 237 Wis. 2d 487 , 614 N.W.2d 60 , 99-1679 . 702.201 Note NOTE: The above annotation relates to powers of appointment under former ch. 702, 1997 stats., prior to the repeal and recreation of this chapter by 2023 Wis. Act 127 .