{"data":{"id":"us-nd/n.d.-cent.-code-47-02-27.2","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 47-02-27.2","heading":"When contingent property interest or power of appointment created","body":"1.Except as provided in subsections 2 and 3 of this section and in subsection 1 of section 47-02-27.5, the time of creation of a contingent property interest or a power of appointment is determined under general principles of property law.\n2.For purposes of sections 47-02-27.1 through 47-02-27.5, if there is a person who alone can exercise a power created by a governing instrument to become an unqualified beneficial owner of a contingent property interest or a property interest subject to a power of appointment described in subsection 2 or 3 of section 47-02-27.1, the contingent property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.\n3.For purposes of sections 47-02-27.1 through 47-02-27.5, a contingent property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the contingent property interest or power of appointment in the original contribution was created.","path":["Title 47 Property","Chapter 47-02 Classification Of Ownership"],"source_url":"https://ndlegis.gov/cencode/t47c02.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"a24431bbcdfb6096ec69f86d5d1f808ebd72acbe5c941ac88c1f94803e06c01d","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-47-02-27.1","next":"us-nd/n.d.-cent.-code-47-02-27.3"},"notice":"GroundRules: Original legal text. Not legal advice."}