§2-901. Short title This Part may be known and cited as “the Uniform Disclaimer of Property Interests Act.” [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, […]
§2-902. Definitions As used in this Part, unless the context otherwise indicates, the following terms have the following meanings. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Disclaimant. “Disclaimant” means the person to whom a disclaimed interest or power would have passed had the disclaimer […]
§2-903. Scope This Part applies to disclaimers of any interest in or power over property, whenever created. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. […]
§2-904. Part supplemented by other law 1. Principles of law and equity. Unless displaced by a provision of this Part, the principles of law and equity supplement this Part. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2. Right to waive, release, disclaim or renounce property […]
§2-905. Power to disclaim; general requirements; when irrevocable 1. Power to disclaim. 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 […]
§2-906. Disclaimer of interest in property 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation. [PL 2017, c. 402, Pt. […]
§2-907. Disclaimer of rights of survivorship in jointly held property 1. Disclaimer by surviving holder of 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. A fractional share of the property determined by dividing the number one […]
§2-908. 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. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). […]
§2-909. 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 provisions apply. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Disclaimer of […]
§2-910. Disclaimer by appointee, object or taker in default of exercise of power of appointment 1. Disclaimer by appointee. 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. [PL 2017, c. […]
§2-911. Disclaimer of power held in fiduciary capacity 1. Disclaimer of unexercised power. 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. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, […]
§2-912. Delivery or filing 1. Beneficiary designation. As used in this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of: A. An annuity or insurance policy; [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] B. An account […]
§2-913. When disclaimer barred or limited 1. Bar pursuant to written waiver. A disclaimer is barred by a written waiver of the right to disclaim. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 2. Bar pursuant to events. A disclaimer of an interest in property is […]
§2-914. Tax qualified disclaimer Notwithstanding any other provision of this Part, if as a result of a disclaimer or transfer the disclaimed or transferred interest is treated, pursuant to the provisions of 26 United States Code, as amended, or any successor statute, and the regulations promulgated thereunder, as never having been transferred to the disclaimant, […]
§2-915. Recording of disclaimer If an instrument transferring an interest in or power over property subject to a disclaimer is required or permitted by law to be filed, recorded or registered, the disclaimer may be so filed, recorded or registered. Except as otherwise provided in section 2-912, subsection 7, paragraph B, failure to file, record […]
§2-916. Application to existing relationships Except as otherwise provided in section 2-913, an interest in or power over property existing on September 1, 2019 as to which the time for delivering or filing a disclaimer under law superseded by this Part has not expired may be disclaimed after September 1, 2019. [PL 2019, c. […]
§2-917. Relation to Electronic Signatures in Global and National Commerce Act This Part modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 United States Code, Section 7001, et seq., but does not modify, limit or supersede Section 101(c) of that Act, 15 United States Code, Section 7001(c) or authorize […]
