Title 28, Property

[§526-1] Short title. This chapter may be cited as the "Uniform Disclaimer of Property Interests Act (1999)". [L 2000, c 43, pt of §1]

[§526-10] 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 irr…

[§526-11] 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…

§526-12 Delivery or filing. (a) In this section, "beneficiary designation" means an instrument, other than an instrument creating a trust, naming the beneficiary of: (b) Subject to subsections (c) through (l), delivery of a disclaimer may be effected by personal delivery, first-c…

[§526-13] 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: (c) A disclaimer, in whole or …

[§526-14] Tax qualified disclaimer. Notwithstanding any other provision of this chapter, 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 …

§526-15 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 filed, recorded, or registered. Except as otherwise provided in…

[§526-16] Application to existing relationships. Except as otherwise provided in section 526-13, an interest in or power over property existing on July 1, 2000 as to which the time for delivering or filing a disclaimer under law superseded by this chapter has not expired may be d…

[§526-2] Definitions. In this chapter: "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. "D…

[§526-3] Scope. This chapter applies to disclaimers of any interest in or power over property, whenever created. [L 2000, c 43, pt of §1]

[§526-4] Chapter supplemented by other law. (a) Unless displaced by a provision of this chapter, the principles of law and equity supplement this chapter. (b) This chapter does not limit any right of a person to waive, release, disclaim, or renounce an interest in or power over p…

[§526-5] Power to disclaim; general requirements; when irrevocable. (a) 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 provisi…

§526-6 Disclaimer of interest in property. (a) 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. "Time of distribution" means the time when a disclaimed interest would have taken effe…

[§526-7] 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: (b) A disclaimer under subsection (a) takes effect as of the death of the holder of …

[§526-8] 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. [L 2000, c 43, pt of §1]

[§526-9] 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 apply: