Va. Code § 64.2-2723: Disposition of unappointed property under released or unexercised nongeneral power

To the extent that a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:1. The gift-in-default clause controls the disposition of the unappointed property; or2. If there is no gift-in-default clause or to the extent that the clause is ineffective, the unappointed property:a. Passes to the permissible appointees if:(1) The permissible appointees are defined and limited; and(2) The terms of the instrument creating the power do not manifest a contrary intent; orb. If there is no taker under subdivision 2 a, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.2016, c. 266.