10-9.1 - Revocability of a power of appointment - New York Statutes

§ 10-9.1 Revocability of a power of appointment (a) A power of appointment is irrevocable unless the donor reserves the right to revoke it. (b) An exercise of power of appointment is irrevocable whenever: (1) The donor of a special power manifests his intention that its exercise be irrevocable, or (2) The donee does not manifest in the instrument exercising the power his intention to reserve a power of revocation. (c) If the donee in exercising a power reserves a power to revoke the appointment, but does not expressly reserve a power to reappoint, upon the exercise of the power of revocation, the donee can reappoint. (d) An instrument exercising a power of appointment is affected by fraud in the same manner as a deed or will, executed by an owner or by a trustee of property.