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Virginia Law

Code of Virginia

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Code of Virginia
Title 55.1. Property and Conveyances
Chapter 1. Creation and Limitation of Estates
10/14/2024

§ 55.1-128. Prospective application.

A. Sections 55.1-124 through 55.1-129 apply to a nonvested property interest or a power of appointment that is created on or after July 1, 2000.

B. For purposes of subsection A, the first sentence of subsection F of § 55.1-124, and subdivision A 8 of § 55.1-127, a nonvested property interest or a power of appointment created by the exercise of a power of appointment is created when the power is irrevocably exercised or when a revocable exercise becomes irrevocable.

2000, c. 714, § 55-12.5; 2019, c. 712; 2024, cc. 52, 123.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.