Section 10-5.4. Priority

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The  interest  of  the  donee  of  a  power of appointment, and of any
  appointee thereunder, has priority with respect to real property subject
  thereto, as against creditors,  purchasers  or  incumbrancers,  in  good
  faith  and  without notice, of or from a person having an estate in such
  property, only from the time at which the instrument creating the  power
  is  duly  recorded.  As  against  all  other  persons, such interest has
  priority from the time at which the instrument creating the power  takes
  effect.

                    
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