such person shall also take a fee, subject to any future estates that may be limited thereon, but absolute in respect to creditors and purchasers.

create a fee, etc.

(2668.) SEC. 11. In all cases where such power of disposition Certain Powers is given, and no remainder is limited on the estate of the grantee of the power, such grantee shall be entitled to an absolute fee.

to devise the in

tain cases.

(2669.) SEC. 12. When a general and beneficial power to Effect of Power devise the inheritance, shall be given to a tenant for life or heritance in cerfor years, such tenant shall be deemed to possess an absolute power of disposition, within the meaning, and subject to the provisions of the three last preceding sections.

be deemed abso

(2670.) SEC. 13. Every power of disposition shall be deemed what Powers to absolute, by means of which the grantee is enabled, in his life- lute. time, to dispose of the entire fee for his own benefit.

(2671.) SEC. 14. When the grantor in any conveyance shall Power to revoke reserve to himself, for his own benefit an absolute power of revocation, such grantor shall still be deemed the absolute owner of the estate conveyed, so far as the rights of creditors and purchasers are concerned.

(2672.) SEC. 15. A special and beneficial power may be special and Benegranted:

1. To a married woman, to dispose, during the marriage, and without the consent of her husband, of any estate less than a fee, belonging to her, in the lands to which the power relates;

2. To a tenant for life of the lands embraced in the power, to make leases for not more than twenty-one years, and to commence in possession during his life.

ficial Powers, who may take.

Leases by Tenant

(2673.) SEC. 16. The power of a tenant for life to make Power to make leases, is not assignable as a separate interest, and will pass, for life. unless specially excepted, by any conveyance of such estate; and if specially excepted in any such conveyance, it is extinguished.

Power.

(2674.) SEC. 17. Such power may be released by the tenant Release of such to any person entitled to an expectant estate in the lands, and shall thereupon be extinguished.

ty having Power

(2675.) SEC. 18. A mortgage executed by a tenant for life Mortgage by parhaving a power to make leases, or by a married woman by to lease, etc. virtue of any beneficial power, does not extinguish or suspend the power; but the power is bound by the mortgage, in the same manner as the lands embraced therein.

Effect of Mortgage on Power.

Future Beneficial
Powers.

Beneficial Powers liable to Credi tors.

General Powers when in Trust.

Special Powers, when in Trust.

Trust Powers imperative.

Effect of right of selection.

Construction of Powers in certain cases.

(2676.) SEC. 19. The effects of such a lien by mortgage on the power are:

1. That the mortgagee is entitled, in equity, to an execution of the power, so far as the satisfaction of his debt may require;

2. That any subsequent estate created by the owner, in execution of the power, becomes subject to the mortgage, in the same manner as if in terms embraced therein.

(2677.) SEC. 20. No beneficial power, general or special, hereafter to be created, other than such as are enumerated and defined in the preceding sections of this chapter, shall be valid.

(2678.) SEC. 21. Every special and beneficial power is liable in equity to the claims of creditors, in the same manner as other interests that cannot be reached by an execution at law, and the execution of the power may be decreed for the benefit of the creditors entitled.

(2679.) SEC. 22. A general power is in trust when any person or class of persons, other than the grantee of such power, is designated as entitled to the proceeds, or any portion of the proceeds or other benefits to arise from the alienation of the lands according to the power.

(2680.) SEC. 23. A special power is in trust:

1. When the disposition which it authorizes, is limited to be made to any particular person or class of persons, other than the grantee of such power;

2. When any person or class of persons, other than the grantee, is entitled to any benefit from the disposition or charge authorized by the power.

(2681.) SEC. 24. Every trust power, unless its execution or non-execution is made expressly to depend on the will of the grantee, is imperative, and imposes a duty on the grantee, the performance of which may be compelled in equity for the benefit of the parties interested.

(2682.) SEC. 25. A trust power does not cease to be imperative when the grantee has the right to select any, and exclude others of the persons designated as the objects of the trust.

(2683.) SEC. 26. When a disposition under a power is directed to be made to, or among, or between several persons, without any specification of the share or sum to be allotted to each, all the persons designated shall be entitled to an equal proportion.

Powers in certain

(2684.) SEC. 27. But when the terms of the power import Construction of that the estate or fund is to be distributed between the persons cases. so designated, in such manner or proportions as the Trustee of the power may think proper, the Trustee may allot the whole to any one or more of such persons, in exclusion of the others.

to execute Pow

(2685.) SEC. 28. If the Trustee of a power, with the right of When Chancery selection, shall die leaving the power unexecuted, its execution ers. shall be decreed in the Court of Chancery for the benefit equally of all the persons designated as objects of the trust. (2686.) SEC. 29. When a power in trust is created by will, Ibid. and the testator has omitted to designate by whom the power is to be executed, its execution shall devolve on the Court of Chancery.

certain Sections

Chapter.

(2687.) SEC. 30. The provisions contained in the next pre- Application of ceding chapter, from section twenty-two to section twenty-of preceding seven, both inclusive, in relation to express trusts and Trustees, shall apply equally to powers in trust, and the grantees of such powers.

Trust Power

by Creditors, etc.

(2688.) SEC. 31. The execution, in whole or in part, of any Execution of trust power, may be decreed in Chancery for the benefit of when compelled the creditors or assignees of any person entitled as one of the objects of the trust to compel its execution, when the interest of the objects of such trust is assignable.

ers, etc., how afAssignments.

(2689.) SEC. 32. Every beneficial power, and the interest of Beneficial Pow every person entitled to compel the execution of a trust fected by certain power, shall pass to the assignees of the estate and effects of the person in whom such power or interest is vested, under any general assignment of the estate and effects of such person for the benefit of creditors, made pursuant to law.

Powers in con

(2690.) SEC. 33. The grantor in any conveyance may reserve Reservation of to himself any power, beneficial or in trust, which he might veyances. lawfully grant to another; and every power so reserved, shall be subject to the provisions of this chapter, in the same manner as if granted to another.

(2691.) SEC. 34. A power may be granted:

1. By a suitable clause contained in the conveyance of some How Powers to estate, in the lands to which the power relates;

be granted.

ers, effect of.

2. By a devise contained in a last will and testament; (2692.) SEC. 35. Every power shall be a lien or charge upon Recording Powthe lands which it embraces, as against creditors and purchasers in good faith, and without notice of or from any person having an estate in such lands, only from the time the

When Powers irrevocable.

In whom Powers may be Vested,

etc.

Married Women.

Execution of Pow

er by Survivors. 2 Paige, 197.

How executed.

Instruments

deemed convey

ances.

Execution of Power to dispose by devise.

Execution of Power to dispose by grant.

How grant to be acknowledged by

instrument containing the power shall be recorded; but as against all other persons, the power shall be a lien from the time the instrument in which it is contained shall take effect.

(2693.) SEC. 36. Every power, beneficial or in trust, is irrevocable, unless an authority to revoke it is reserved or granted in the instrument creating the power.

(2694.) SEC. 37. A power may be vested in any person capable in law of holding lands, but cannot be executed by any person not capable of aliening lands holden by such person, except in the single case mentioned in the next section.

(2695.) SEC. 38. A married woman may execute a power during her marriage, by grant or devise, as may be authorized by the power, without the concurrence of her husband, unless by the terms of the power, its execution by her during marriage is expressly or impliedly prohibited; but no power vested in a married woman during her infancy, can be exercised by her, until she attains her full age.

(2696.) SEC. 39. When a power is vested in several persons, all must unite in its execution; but if previous to such execution, one or more of such persons shall die, the power may be executed by the survivor or survivors.

(2697.) SEC. 40. No power can be executed except by some instrument in writing, which would be sufficient in law to pass the estate or interest intended to pass under the power, if the person executing the power were the actual owner.

(2698.) SEC. 41. Every instrument, except a will, made in execution of a power, whether it be a power of revocation or otherwise, shall be deemed a conveyance within the meaning, and subject to the provisions of the next succeeding chapter. (2699.) SEC. 42. When a power of disposition is confined to a disposition by devise or will, the instrument must be a will duly executed according to the provisions of law relating to wills of real and personal estate.

(2700.) SEC. 43. When a power is confined to a disposition by grant, it cannot be executed by will, although the disposition is not intended to take effect until after the death of the party in whom the power is vested.

(2701.) SEC. 44. If a married woman execute a power by Married Women. grant, such grant shall be acknowledged by her on a private examination in the manner prescribed in the next succeeding chapter, in relation to conveyances by married women, and shall not be valid unless so acknowledged.

grantor.

(2702.) SEC. 45. When the grantor of a power shall have Directions by directed or authorized it to be executed by an instrument not sufficient to pass the estate, such power shall not be void, but its execution shall be governed by the rules prescribed in this chapter.

(2703.) SEC. 46. When the grantor shall have directed any Ibid. formalties to be used in the execution of a power, in addition to those which would be sufficient by law to pass the estate, the observance of such additional formalities shall not be necessary to a valid execution of the power.

tions.

(2704.) SEC. 47. When the conditions annexed to a power Nominal condi are merely nominal, and evince no intention of actual benefit to the party to whom, or in whose favor they are to be performed, they may be wholly disregarded in the execution of

the power.

of grantor to ba

person to execu

(2705.) SEC. 48. With the exceptions contained in the pre- when directions ceding sections, the intentions of the grantor of a power, as to observed. the mode, time and conditions of its execution, shall be observed, subject to the power of a Court of Chancery to supply a defective execution, in the cases hereinafter provided. (2706.) SEC. 49. When the consent of a third person to the consent of third execution of the power is requisite, such consent shall be tion of Power. expressed in the instrument by which the power is executed, or shall be certified in writing thereon; and in the first case, the instrument of execution, in the second, the certificate, shall be signed by the party whose consent is required; and to entitle the instrument to be recorded, such signature must be duly proved or acknowledged, in the same manner as if subscribed to a conveyance of lands.

tio is not void.

(2707.) SEC. 50. No disposition, by virtue of a power, shall certain dispost be void in law or equity, on the ground that it is more extensive than was authorized by the power; but every estate or interest so created, so far as embraced by the terms of the power, shall be good and valid. (2708.) SEC. 51. Every instrument executed by the grantee omission to recite of a power, conveying an estate, or creating a charge which such grantee is authorized by the power to convey or create, but which he would have no right to convey or create, unless by virtue of his power, shall be deemed a valid execution of the power, although such power be not recited or referred to therein.

Power.

(2709.) SEC. 52. Instruments in execution of a power are Faud