§ 31-7-102. Definitions
As used in this chapter, unless the context otherwise requires: “Disclaimant” means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made; “Disclaimed interest” means the interest that would have passed to the disclaimant had the disclaimer not been made; “Disclaimer” means the refusal to accept an […]
§ 31-7-103. Scope
This chapter applies to disclaimers of any interest in or power over property, whenever created.
§ 31-7-104. Disclaimer Act Supplement by Other Law
Unless displaced by this chapter, the principles of law and equity supplement this chapter. This chapter 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 chapter.
§ 31-7-105. Power to Disclaim — General Requirements — When Irrevocable
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. Except to the extent […]
§ 31-7-106. Disclaimer of Interests in Property
As used in this section: “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation; and “Time of distribution” means the time when a disclaimed interest would have taken effect in possession or enjoyment. Except for a disclaimer governed by § 31-7-107 or […]
§ 31-7-107. Disclaimer of Rights of Survivorship in Jointly Held Property
Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or part, the greater of: A fractional share of the property determined by dividing the number one (1) by the number of joint holders alive immediately before the death of the holder to whose death the disclaimer relates; […]
§ 31-7-108. 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.