reglab/housing_qa huggingface dataset:
CO Code § 15-2.5-206 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 2 - Creation, Revocation, and Amendment of Power of Appointment|§ 15-2.5-206. Power of the Donor to Revoke or Amend

  A donor may revoke or amend a power of appointment only to the extent that:   The instrument creating the power is revocable by the donor; or    The donor reserves a power of revocation or amendment in the instrument creating the power of appointment.        History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 776, § 1, effective July 1, 2015.    OFFICIAL COMMENT   The donor of a power of appointment has the authority to revoke or amend the power only to the extent the instrument creating the power is revocable by the donor or the donor reserves a power of revocation or amendment in the instrument creating the power.   For example, the donor's power to revoke or amend a revocable inter vivos trust carries with it the authority to revoke or amend any power of appointment created in the trust. However, to the extent an exercise of the power removes appointive property from the trust, the donor's authority to revoke or amend the power is eliminated, unless the donor expressly reserved authority to revoke or amend any transfer from the trust after the transfer is completed.   If an irrevocable inter vivos trust confers a presently exercisable power on someone who is not the settlor of the trust (the settlor being the donor of the power), the donor lacks authority to revoke or amend the power, except to the extent the donor reserved the authority to do so. If the donor did reserve the authority to revoke or amend the power, that authority is only effective until the powerholder irrevocably exercises the power.   If the same individual is both the donor and the powerholder, the donor in his or her capacity as powerholder can indirectly revoke or amend the power by a partial or total release of the power. See Section 402. After the power has been irrevocably exercised, however, the donor as donor is in no different position in regard to revoking or amending the exercise of the power than the donor would be if the donor and powerholder were different individuals.   The ability of an agent or guardian to revoke or amend a power of appointment on behalf of a principal or ward is determined by other law, such as the Uniform Power of Attorney Act or the Uniform Guardianship and Protective Proceedings Act.   Other law of the state may permit the reformation of an otherwise irrevocable instrument. See, for example, Uniform Probate Code § 2-805; Uniform Trust Code § 415.   The rule of this section is consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers § 18.2 and the accompanying Commentary.
CO Code § 15-2.5-312 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 3 - Exercise of Power of Appointment|§ 15-2.5-312. Disposition of Unappointed Property if Partial Appointment to Taker in Default

 Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the powerholder makes a valid partial appointment to a taker in default of appointment, the taker in default of appointment may share fully in unappointed property.   History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 779, § 1, effective July 1, 2015.    OFFICIAL COMMENT   If a powerholder makes a valid partial appointment to a taker in default, leaving some property unappointed, there is a question about whether that taker in default may also fully share in the unappointed property. In the first instance, the intent of the controls. In the absence of any indication of the donor's intent, it is assumed that the donor intends that the taker can take in both capacities. This rule presupposes that the donor contemplated that the taker in default who is an appointee could receive more of the appointive assets than a taker in default who is not an appointee. The donor can defeat this rule by manifesting a contrary intent in the instrument creating the power of appointment, thereby restricting the powerholder's freedom to benefit an appointee who is also a taker in default in both capacities. If the donor has not so manifested a contrary intent, the is free to exercise the power in favor of a taker in default who is a permissible appointee. Unless the powerholder manifests a contrary intent in the terms of the instrument exercising the power, it is assumed that the powerholder does not intend to affect in any way the disposition of any unappointed property.  donor powerholder  The rule of this section is consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers § 19.24 and the accompanying Commentary.
CO Code § 15-2.5-313 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 3 - Exercise of Power of Appointment|§ 15-2.5-313. Appointment to Taker in Default

 If a powerholder makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift-in-default clause had the property not been appointed, the power of appointment is deemed not to have been exercised and the appointee takes the property under the clause.   History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 779, § 1, effective July 1, 2015.    OFFICIAL COMMENT   This section articulates the rule that, to the extent an appointee would have taken appointed property as a taker in default, the appointee takes under the gift-in-default clause rather than under the appointment.   Takers in default have future interests that may be defeated by an exercise of the power of appointment. To whatever extent the powerholder purports to appoint an interest already held in default of appointment, the powerholder does not exercise the power to alter the donor's disposition but merely declares an intent not to alter it. To the extent, however, that the appointed property (e.g., is a lesser estate) or the property the appointee would receive as a taker in default, the property passes under the appointment.  is different from exceeds the total of  Usually it makes no difference whether the appointee takes as appointee or as taker in default. The principal difference arises in jurisdictions that follow the rule that the estate creditors of the powerholder of a general testamentary power that was conferred on the powerholder by another have no claim on the appointive property unless the powerholder has exercised the power. Although this act does not follow that rule regarding creditors' rights (see Section 502), some jurisdictions do.   The rule of this section is consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers § 19.25 and the accompanying Commentary.
CO Code § 15-2.5-314 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 3 - Exercise of Power of Appointment|§ 15-2.5-314. Powerholder's Authority to Revoke or Amend Exercise

  A powerholder may revoke or amend an exercise of a power of appointment only to the extent that:   The powerholder reserves a power of revocation or amendment in the instrument exercising the power of appointment and, if the power is nongeneral, the terms of the instrument creating the power of appointment do not prohibit the reservation; or    The terms of the instrument creating the power of appointment provide that the exercise is revocable or amendable.        History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 779, § 1, effective July 1, 2015.    OFFICIAL COMMENT   This section recognizes that a powerholder lacks the authority to revoke or amend an exercise of the power of appointment, except to the extent (1) the powerholder reserved a power of revocation or amendment in the instrument exercising the power of appointment and the terms of the instrument creating the power of appointment do not effectively prohibit the reservation, or (2) the donor provided that the exercise is revocable or amendable.   A powerholder who exercises a power of appointment is like any other transferor of property in regard to authority to revoke or amend the transfer. Hence, unless the powerholder (or the donor) in some appropriate manner manifests an intent that an appointment is revocable or amendable, the appointment is irrevocable.   The ability of an agent or guardian to revoke or amend the exercise of a power of appointment on behalf of a principal or ward is determined by other law, such as the Uniform Power of Attorney Act or the Uniform Guardianship and Protective Proceedings Act.   Other law of the state may permit the reformation of an otherwise irrevocable instrument. See, for example, Uniform Probate Code § 2-805; Uniform Trust Code § 415.   The rule of this section is essentially consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers § 19.7 and the accompanying Commentary.
CO Code § 15-2.5-401 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint|§ 15-2.5-401. Disclaimer

  Subject to the “Uniform Disclaimer of Property Interests Act”, part 12 of article 11 of this title:   A powerholder may disclaim all or part of a power of appointment; and    A permissible appointee, appointee, or taker in default of appointment may disclaim all or part of an interest in appointive property.        History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 780, § 1, effective July 1, 2015.    OFFICIAL COMMENT   A prospective powerholder cannot be compelled to accept the power of appointment, just as the prospective donee of a gift cannot be compelled to accept the gift.   A disclaimer is to be contrasted with a release. A release occurs after the powerholder accepts the power. A disclaimer prevents acquisition of the power, and consequently a powerholder who has accepted a power can no longer disclaim.   Disclaimer statutes frequently specify the time within which a disclaimer must be made. The Uniform Disclaimer of Property Interests Act (1999) (UDPIA) does not specify a time limit, but allows a disclaimer until a disclaimer is barred (see UDPIA § 13).   Disclaimer statutes customarily specify the methods for filing a disclaimer. UDPIA § 12 provides that the statutory methods must be followed. In the absence of such a requirement, statutory formalities for making a disclaimer of a power are not construed as exclusive, and any manifestation of the powerholder's intent not to accept the power may also suffice.   A partial disclaimer of a power of appointment leaves the powerholder possessed of the part of the power not disclaimed.   Just as an individual who would otherwise be a powerholder can avoid acquiring the power by disclaiming it, a person who otherwise would be a permissible appointee, appointee, or taker in default of appointment can avoid acquiring that status by disclaiming it.   The ability of an agent or guardian to disclaim on behalf of a principal or ward is determined by other law, such as the Uniform Power of Attorney Act or the Uniform Guardianship and Protective Proceedings Act.   The rule of this section is consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers § 20.4 and the accompanying Commentary.
CO Code § 15-2.5-402 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint|§ 15-2.5-402. Authority to Release

 A powerholder may release a power of appointment, in whole or in part, except to the extent the terms of the instrument creating the power prevent the release.   History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 780, § 1, effective July 1, 2015.    OFFICIAL COMMENT   Whether a power of appointment is general or nongeneral, presently exercisable or testamentary, the powerholder has the authority to release the power in whole or in part, in the absence of an effective restriction on release imposed by the donor. A partial release is a release that narrows the freedom of choice otherwise available to the powerholder but does not eliminate the power. A partial release may relate either to the manner of exercising the power or to the persons in whose favor the power may be exercised.   If the powerholder did not create the power, so that the powerholder and donor are different individuals, the donor can effectively impose a restraint on release, but the donor must manifest an intent in the terms of the creating instrument to impose such a restraint.   If the powerholder created the power, so that the powerholder is also the donor, the donor/powerholder cannot effectively impose a restraint on release. A self-imposed restraint on release resembles a self-imposed restraint on alienation, which is ineffective. See, for example, Restatement Third of Trusts § 58.   If the exercise of a power of appointment requires the action of two or more individuals, each powerholder has a power of appointment. If one but not the other joint powerholder releases the power, the power survives in the hands of the nonreleasing powerholder, unless the continuation of the power is inconsistent with the donor's purpose in creating the joint power. See Restatement Third of Property: Wills and Other Donative Transfers § 20.1, Comment f.   The ability of an agent or guardian to release a power of appointment on behalf of a principal or ward is determined by other law, such as the Uniform Power of Attorney Act or the Uniform Guardianship and Protective Proceedings Act.   The rule of this section is consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers §§ 20.1 and 20.2 and the accompanying Commentary.
CO Code § 15-2.5-404 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint|§ 15-2.5-404. Revocation or Amendment of Release

  A powerholder may revoke or amend a release of a power of appointment only to the extent that:   The instrument of release is revocable by the powerholder; or    The powerholder reserves a power of revocation or amendment in the instrument of release.        History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 781, § 1, effective July 1, 2015.    OFFICIAL COMMENT   A release is typically irrevocable. If a powerholder wishes to retain the power to revoke or amend the release, the powerholder should so indicate in the instrument executing the release.   The ability of an agent or guardian to revoke or amend the release of a power of appointment on behalf of a principal or ward is determined by other law, such as the Uniform Power of Attorney Act or the Uniform Guardianship and Protective Proceedings Act.   Other law of the state may permit the reformation of an otherwise irrevocable instrument. See, for example, Uniform Probate Code § 2-805; Uniform Trust Code § 415.   The rule of this section is consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers §§ 20.1 and 20.2 and the accompanying Commentary.
CO Code § 15-2.5-405 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint|§ 15-2.5-405. Power to Contract - Presently Exercisable Power of Appointment

  A powerholder of a presently exercisable power of appointment may contract:   Not to exercise the power if the contract, when made, does not confer a benefit on a person other than a taker in default or a permissible appointee; or    To exercise the power if the contract, when made, does not confer a benefit on an impermissible appointee.        History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 781, § 1, effective July 1, 2015.    OFFICIAL COMMENT   A powerholder of a presently exercisable power may contract to make, or not to make, an appointment if the contract does not confer a benefit on an impermissible appointee. The rationale is that the power is presently exercisable, so the powerholder can presently enter into a contract concerning the appointment.   The contract may not confer a benefit on an impermissible appointee. Recall that a general power presently exercisable in favor of the powerholder or the powerholder's estate has no impermissible appointees. See Section 305(1). In contrast, a presently exercisable nongeneral power, or a general power presently exercisable only in favor of one or more of the creditors of the powerholder or the powerholder's estate, does have impermissible appointees. See Section 305(2)-(3).   A contract to appoint assures that the appointive property will pass to the taker in default. A contract to appoint to a taker in default, if enforceable, has the same effect as a contract not to appoint.  not  The ability of an agent or guardian to contract on behalf of a principal or ward is determined by other law, such as the Uniform Power of Attorney Act or the Uniform Guardianship and Protective Proceedings Act.   The rule of this section is consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers § 21.1 and the accompanying Commentary.
CO Code § 15-2.5-406 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 4 - Disclaimer or Release; Contract to Appoint or Not to Appoint|§ 15-2.5-406. Power to Contract - Power of Appointment Not Presently Exercisable

  A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:   Is also the donor of the power; and    Has reserved the power in the instrument creating the power.        History. Source: L. 2014: Entire article added,(HB 14-1353), ch. 209, p. 781, § 1, effective July 1, 2015.    OFFICIAL COMMENT   Except in the case of a power reserved by the donor in a revocable inter vivos trust, a contract to exercise, or not to exercise, a power of appointment that is not presently exercisable is unenforceable, because the powerholder does not have the authority to make a current appointment. If the powerholder was also the donor of the power and created the power in a revocable inter vivos trust, however, a contract to appoint is enforceable, because the donor-powerholder could have revoked the trust and recaptured ownership of the trust assets or could have amended the trust to change the power onto one that is presently exercisable.   In all other cases, the donor of a power not presently exercisable has manifested an intent that the selection of the appointees and the determination of the interests they are to receive are to be made in the light of the circumstances that exist on the date that the power becomes exercisable. Were a contract to be enforceable, the donor's intent would be defeated.   The ability of an agent or guardian to contract on behalf of a principal or ward is determined by other law, such as the Uniform Power of Attorney Act or the Uniform Guardianship and Protective Proceedings Act.   The rule of this section is consistent with, and this Comment draws on, Restatement Third of Property: Wills and Other Donative Transfers § 21.2 and the accompanying Commentary.
CO Code § 15-2.5-601 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 6 - Miscellaneous Provisions|§ 15-2.5-601. Uniformity of Application and Construction

 In applying and construing this article, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.   History. Source: L. 2014: Entire article added, (HB 14-1353), ch. 209, p. 781, § 1, effective July 1, 2015.
CO Code § 15-2.5-602 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 2.5 - Uniform Powers of Appointment Act|Part 6 - Miscellaneous Provisions|§ 15-2.5-602. Relation to Electronic Signatures in Global and National Commerce Act

 This article modifies, limits, or supersedes the federal “Electronic Signatures in Global and National Commerce Act”, 15 U.S.C. section 7001 et seq., but does not modify, limit, or supersede section 101 (c) of that act, 15 U.S.C. section 7001 (c), or authorize electronic delivery of any of the notices described in section 103 (b) of that act, 15 U.S.C. section 7003 (b).   History. Source: L. 2014: Entire article added, (HB 14-1353), ch. 209, p. 781, § 1, effective July 1, 2015.
CO Code § 15-5-101 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 1 - General Provisions and Definitions|§ 15-5-101. Short Title

 This article 5 is known and may be cited as the “Colorado Uniform Trust Code” and is referred to in this article 5 as “this code” or “code”.   History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1144, § 1, effective January 1, 2019.
CO Code § 15-5-102 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 1 - General Provisions and Definitions|§ 15-5-102. Scope

 This code applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This code does not apply to a business trust, a security arrangement, a trust created by a deposit arrangement in a financial institution, or any arrangement under which a person is a nominee or escrowee for another.   History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1144, § 1, effective January 1, 2019.
CO Code § 15-5-104 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 1 - General Provisions and Definitions|§ 15-5-104. Knowledge

  Subject to subsection (2) of this section, a person has knowledge of a fact if the person:   Has actual knowledge of it;    Has received a notice or notification of it; or    From all the facts and circumstances known to the person at the time in question, and acting in a reasonably prudent manner given the person's experience and expertise, has reason to know it.       An organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time the information was received by an employee having responsibility to act for the trust, or would have been brought to the employee's attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains routines for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the routines. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual's regular duties or the individual knows that a matter involving the trust would be materially affected by the information.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1147, § 1, effective January 1, 2019.