Holzbach v. United Virginia Bank

216 Va. 482 (1975)

HAZEL H. HOLZBACH

v.

UNITED VIRGINIA BANK, ETC., ET AL.

Record No. 750267.

Supreme Court of Virginia.

December 1, 1975.

C. Jackson Simmons (Dunton, Simmons & Dunton, on brief), for appellant.

Present, I'Anson, C.J., Carrico, Harrison, Cochran, Poff and Compton, JJ.

1. Power of appointment, a unique legal creature, is created only by deliberate act and is not itself an absolute right of property. Title remains with donor until power has been effectively exercised by donee.

2. Donor of power of appointment may impose conditions upon power and manner in which it must be exercised, which…