special power of appointment

special power of appointment definition - business

special power of appointment

The legal authority granted to a person to distribute the grantor's property to a specified group. For example, a person may grant to her attorney a special power of appointment to distribute her household and personal items, but only to her children. Also called power of appointment. Compare general power of appointment.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.