Takers in default

{
  "id": "MLC-T-LAW-004824",
  "term": "Takers in default",
  "field": "Law",
  "definition": "Persons named in the instrument creating a power of appointment to receive the property if the donee of the power does not exercise it or exercises it ineffectively. Their interest is a gift over, frequently a remainder, that is defeated if the donee validly appoints the property to someone else. For example, a trust that gives a child a power to appoint among descendants can name the child's own descendants as takers in default.",
  "url": "https://mlchart.com/terminology/law/takers-in-default/"
}