Section 633E.1 – Short title.
633E.1 Short title. This chapter shall be known and may be cited as the “Iowa Uniform Disclaimer of Property Interest Act”. 2004 Acts, ch 1015, §8 C2005, §633.901 2005 Acts, ch 38, §52, 53 CS2005, §633E.1
Section 633E.10 – Disclaimer by appointee, object, or taker in default of exercise of power of appointment.
633E.10 Disclaimer by appointee, object, or taker in default of exercise of power of appointment. 1. For purposes of this section, all of the following rules shall apply: a. An appointee is a person to whom a holder of a power has effectively appointed the property subject to the power. b. An object of a […]
Section 633E.11 – Disclaimer of power held in fiduciary capacity.
633E.11 Disclaimer of power held in fiduciary capacity. 1. 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. 2. If a fiduciary disclaims a power held in a fiduciary capacity which has been […]
Section 633E.12 – Delivery or filing.
633E.12 Delivery or filing. 1. For the purposes of this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of any of the following: a. An annuity or insurance policy. b. An account with a designation for payment on death. c. A security registered in beneficiary form. d. […]
Section 633E.13 – When disclaimer barred or limited.
633E.13 When disclaimer barred or limited. 1. A disclaimer is barred by a written waiver of the right to disclaim. 2. A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective: a. The disclaimant accepts the interest sought to be disclaimed. b. The disclaimant […]
Section 633E.14 – Chapter supplemented by other law.
633E.14 Chapter supplemented by other law. 1. Unless displaced by a provision of this chapter, the principles of law and equity supplement this chapter. 2. This chapter does not limit any right of a person to disclaim an interest in or power over property under a statute other than this chapter. 2004 Acts, ch 1015, […]
Section 633E.15 – Medical assistance eligibility.
633E.15 Medical assistance eligibility. A disclaimer of any property, interest, or right pursuant to the provisions of this chapter constitutes a transfer of assets for the purpose of determining eligibility for medical assistance under chapter 249A in an amount equal to the value of the property, interest, or right disclaimed. 2004 Acts, ch 1015, §22 […]
Section 633E.16 – Application to existing relationship.
633E.16 Application to existing relationship. Except as otherwise provided in section 633E.13, an interest in or power over property existing on July 1, 2004, as to which the time for delivering or filing a disclaimer under law superseded by this chapter has not expired may be disclaimed after July 1, 2004. 2004 Acts, ch 1015, […]
Section 633E.17 – Severability.
633E.17 Severability. If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or application of the chapter which can be given effect without the invalid provisions or application, and to this end, the provisions of the chapter are severable. 2004 […]
Section 633E.2 – Definitions.
633E.2 Definitions. For purposes of this chapter, the following definitions shall apply: 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 the disclaimant refuses to accept that would have passed to the disclaimant had the disclaimer not […]
Section 633E.3 – Scope.
633E.3 Scope. This chapter applies to disclaimers of any interest in or power over property, whenever and however created. 2004 Acts, ch 1015, §10 C2005, §633.903 2005 Acts, ch 38, §52, 53 CS2005, §633E.3
Section 633E.4 – Tax qualified disclaimer.
633E.4 Tax qualified disclaimer. Except as provided in sections 633E.13 and 633E.15, notwithstanding any other provision of this chapter, any disclaimer or transfer that meets the requirements of section 2518 of the Internal Revenue Code, and the regulations promulgated thereunder, for the purpose of being a tax qualified disclaimer with the effect that the disclaimed […]
Section 633E.5 – Power to disclaim — general requirements — when irrevocable.
633E.5 Power to disclaim — general requirements — when irrevocable. 1. A person may disclaim, in whole or in part, any interest in or power over property, including a power of appointment, whenever and however acquired. A person may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction […]
Section 633E.6 – Effect of disclaimer of interest in property.
633E.6 Effect of disclaimer of interest in property. 1. As used in this section: a. “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation. b. “Time of distribution” means the time when a disclaimed interest would have taken effect in possession or […]
Section 633E.7 – Disclaimer of rights of survivorship in jointly held property.
633E.7 Disclaimer of rights of survivorship in jointly held property. 1. Upon the death of a holder of jointly held property, either of the following may occur: a. If, during the deceased holder’s lifetime, the deceased holder could have unilaterally regained a portion of the property attributable to the deceased holder’s contribution without the consent […]
Section 633E.8 – Disclaimer of interest by trustee.
633E.8 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. 2004 Acts, ch 1015, §15 C2005, §633.908 2005 Acts, ch 38, §53 CS2005, §633E.8 Referred to in §633E.5, 633E.6
Section 633E.9 – Disclaimer of power of appointment or other power not held in fiduciary capacity.
633E.9 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 shall apply: 1. If the holder has not exercised the power, the disclaimer takes effect as of the time the instrument […]