Commentary

46 Effect of bankruptcy of donee

POWERS OF APPOINTMENT vol 33
| Commentary

46 Effect of bankruptcy of donee

| Commentary

46 Effect of bankruptcy of donee

A bankrupt’s powers over property1, if exercisable for his own benefit, become vested in the trustee in bankruptcy2, and may be exercised by the trustee for the benefit of the creditors so long as the bankrupt is living3. This rule does not, however, apply to powers exercisable by will only4.

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