US Lawyer Database

§ 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 […]

§ 28-2-211. 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 […]