§ 28-2-201. Short title

This subchapter may be cited as the “Uniform Disclaimer of Property Interests Act (1999).”

§ 28-2-202. Definitions

In this subchapter: (1) “Disclaimant” means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made. (2) “Disclaimed interest” means the interest that would have passed to the disclaimant had the disclaimer not been made. (3) “Disclaimer” means the refusal to accept an interest in or power […]

§ 28-2-203. Scope

This subchapter applies to disclaimers of any interest in or power over property, whenever created.

§ 28-2-204. Subchapter supplemented by other law

(a) Unless displaced by a provision of this subchapter, the principles of law and equity supplement this subchapter. (b) This subchapter does not limit any right of a person to waive, release, disclaim, or renounce an interest in or power over property under a law other than this subchapter.

§ 28-2-205. Power to disclaim — General requirements, when irrevocable

(a) A person may disclaim, in whole or part, any interest in or power over property, including a power of appointment. A person may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim. (b) Except to […]

§ 28-2-206. Disclaimer of interest in property

(a) In this section: (1) “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation. (2) “Time of distribution” means the time when a disclaimed interest would have taken effect in possession or enjoyment. (b) Except for a disclaimer governed by § 28-2-207 […]

§ 28-2-207. Disclaimer of rights of survivorship in jointly held property

(a) Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or part, the greater of: (1) a fractional share of the property determined by dividing the number one by the number of joint holders alive immediately before the death of the holder to whose death the disclaimer […]

§ 28-2-208. Disclaimer of interest by trustee

If a trustee disclaims an interest in property that otherwise would have become trust property, the interest does not become trust property.

§ 28-2-209. Disclaimer of power of appointment or other power not held in fiduciary capacity

If a holder disclaims a power of appointment or other power not held in a fiduciary capacity, the following rules apply: (1) If the holder has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable. (2) If the holder has exercised the power and the […]

§ 28-2-210. Disclaimer by appointee, object, or taker in default of exercise of power of appointment

(a) A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable. (b) A disclaimer of an interest in property by an object or taker in default of an exercise of a power of […]

§ 28-2-211. Disclaimer of power held in fiduciary capacity

(a) If a fiduciary disclaims a power held in a fiduciary capacity which has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable. (b) If a fiduciary disclaims a power held in a fiduciary capacity which has been exercised, the disclaimer takes effect immediately after the […]

§ 28-2-212. Delivery or filing

(a) In this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of: (1) an annuity or insurance policy; (2) an account with a designation for payment on death; (3) a security registered in beneficiary form; (4) a pension, profit-sharing, retirement, or other employment-related benefit plan; or (5) […]

§ 28-2-213. When disclaimer barred or limited

(a) A disclaimer is barred by a written waiver of the right to disclaim. (b) A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective: (1) the disclaimant accepts the interest sought to be disclaimed; (2) the disclaimant voluntarily assigns, conveys, encumbers, pledges, or […]

§ 28-2-214. Tax-qualified disclaimer

Notwithstanding any other provision of this subchapter, if as a result of a disclaimer or transfer the disclaimed or transferred interest is treated pursuant to the provisions of Title 26 of the United States Code, as now or hereafter amended, or any successor statute thereto, and the regulations promulgated thereunder, as never having been transferred […]

§ 28-2-215. Disclaimer of interest in real property — Recording of disclaimer

(a) If real property or an interest therein is disclaimed, a copy of the disclaimer shall be recorded in the office of the circuit clerk of the county in which the property or interest disclaimed is located. (b) If an interest in or relating to real property is disclaimed and recorded as provided in this […]

§ 28-2-216. Minor, incompetent, or deceased beneficiary

A guardian of the property or an executor or administrator of the estate of a minor, incompetent, or deceased beneficiary may, if the fiduciary deems it to be in the best interest of those concerned with the estate of the beneficiary and of those who will take the beneficiary’s interest by virtue of the disclaimer […]

§ 28-2-217. Relation to Electronic Signatures in Global and National Commerce Act

This subchapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act (15 U.S.C. Section 7001 et seq.) but does not modify, limit, or supersede Section 101(c) of that act (15 U.S.C. Section 7001(c)) or authorize electronic delivery of any of the notices described in Section 103(b) of that act (15 […]

§ 28-2-218. Uniformity of application and construction

In applying and construing this Uniform Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among States that enact it.

§ 28-2-220. Effective date

This act takes effect on September 1, 2003.

§ 28-2-221. Repeals

Sections 28-2-101 — 28-2-109 are repealed.