559.1 Release by donee of power. 1. A power to appoint which is exercisable by deed, by will, by deed or will, or otherwise, in whole or to any extent in favor of the donee of the power, the donee’s estate, the donee’screditors, the creditors of the donee’s estate, or others, is releasable, either with or withoutconsideration, by written instrument executed by the donee. If such instrument shall beexecuted and acknowledged in the manner provided for the execution and acknowledgmentof instruments affecting real estate and recorded with the county recorder in the county inwhich the donee of the power resides or the county of last residence of the donor of the powerof the county in which any real estate which may be subject to the power is located, suchrecording shall be deemed a sufficient delivery of such release. 2. A power to appoint described in this section is releasable with respect to the whole or any part of the property subject to such power and is also releasable in such manner as toreduce or limit the persons or objects, or classes of persons or objects in whose favor suchpower would otherwise be exercisable. 3. y subject to such power and is also releasable in such manner as toreduce or limit the persons or objects, or classes of persons or objects in whose favor suchpower would otherwise be exercisable. 3. It is hereby declared that such releases are in accordance with the public policy of this state and are valid and effectual when made. [C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §559.1]2018 Acts, ch 1026, §164Referred to in §559.6 Sat Dec 23 11:05:58 2023 Iowa Code 2024, Section 559.1 (15, 0)
Iowa Legal Code