CODE OF VIRGINIA

APPLICATION TO EXISTING RELATIONSHIPS (§ 64.2-2741)

A. Except as otherwise provided in this chapter, on and after July 1, 2016:

   1.  This chapter applies to a power of appointment created before, on, or
   after July 1, 2016;

   2.  This chapter applies to a judicial proceeding concerning a power of
   appointment commenced on or after July 1, 2016;

   3.  This chapter applies to a judicial proceeding concerning a power of
   appointment commenced before July 1, 2016, unless the court finds that
   application of a particular provision of this chapter would interfere
   substantially with the effective conduct of the judicial proceeding or
   prejudice a right of a party, in which case the particular provision of this
   chapter does not apply and the superseded law applies;

   4.  A rule of construction or presumption provided in this chapter applies to
   an instrument executed before July 1, 2016, unless there is a clear indication
   of a contrary intent in the terms of the instrument; and

   5.  Except as otherwise provided in subdivisions 1 through 4, an action done
   before July 1, 2016, is not affected by this chapter.

B. If a right is acquired, extinguished, or barred on the expiration of a
prescribed period that commenced under law of the Commonwealth other than this
chapter before July 1, 2016, the law continues to apply to the right.

HISTORY: 2016, c. 266.