MrThickRopes
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LSDefine
Simple English definitions for legal terms
object of a power
Read a random definition: GNP
A quick definition of object of a power:
An object of a power is a person who can receive property that is assigned under a power of appointment. This person is also known as a permissible appointee. They are someone who benefits from the power of appointment, which is the ability to assign property to someone else. An appointee is simply someone who is appointed, and in this case, they are appointed to receive property.
A more thorough explanation:
Definition: The object of a power refers to a person who can receive the benefit of a power of appointment. This person is also known as the permissible appointee.
Example: Let's say that John has a power of appointment over a trust fund. This means that he has the authority to decide who will receive the money from the trust. The object of the power would be the person or people that John chooses to receive the money.
Explanation: In this example, the object of the power is the person or people that John chooses to receive the money from the trust fund. These people are known as the permissible appointees because they are the ones who can legally receive the benefit of the power of appointment.