Sec. 13.70.030. Power to disclaim; general requirements; when irrevocable.
(a) A person may disclaim, in whole or part, conditionally or unconditionally, 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, prohibition, or limitation on the right to […]
Sec. 13.70.040. Disclaimer of interest in property.
(a) Except for a disclaimer governed by AS 13.70.050 – 13.70.065, the following rules apply to a disclaimer of an interest in property: (1) the disclaimer takes effect as of the time the instrument creating the interest becomes irrevocable or, if the interest arose under the law of intestate succession, as of the time of […]
Sec. 13.70.050. Disclaimer of rights of survivorship in jointly held property.
(a) On 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 […]
Sec. 13.70.060. Disclaimer of interest in property held as a tenancy by the entirety.
(a) The survivorship interest in property that is held as a tenancy by the entirety and to which the survivor succeeds by operation of law on the death of the cotenant may be disclaimed as provided in this chapter. For the purposes of this chapter only, the deceased tenant’s interest in property held as a […]
Sec. 13.70.065. Disclaimer of interest by trustee.
If a trustee who has the power to disclaim under a court order or under the instrument creating the fiduciary relationship disclaims an interest in property that otherwise would have become trust property, the interest does not become trust property.
Sec. 13.70.070. 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 […]
Sec. 13.70.080. 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 […]
Sec. 13.70.090. Disclaimer of power held in fiduciary capacity.
(a) If a fiduciary disclaims a power held in a fiduciary capacity that 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 that has been exercised, the disclaimer takes effect immediately after the […]
Sec. 13.70.100. Delivery or filing.
(a) Subject to (b) – (l) of this section, delivery of a disclaimer may be effected by personal delivery, first class mail, or any other method likely to result in its receipt. A disclaimer sent by first class mail is considered to have been delivered on the date it is postmarked. Delivery by personal delivery […]
Sec. 13.70.110. When disclaimer permitted, barred, or limited.
(a) A disclaimer is permitted unless barred under (b) – (f) of this section. A disclaimer is permitted even though the disclaimant is insolvent. (b) A disclaimer is barred by a written waiver of the right to disclaim. (c) A disclaimer of an interest in property is barred if any of the following events occurs […]