Events barring disclaimer

Sec. 2. A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective: (1) The disclaimant accepts the interest sought to be disclaimed. (2) The disclaimant voluntarily: (A) assigns, conveys, encumbers, pledges, or transfers the interest sought to be disclaimed; or (B) contracts to take an action described in clause (A). (3) A judicial sale of the interest sought to be disclaimed occurs. As added by P.L.5-2003, SEC.1.