Title 31, Descent And Distribution

(1) As used in this chapter, unless the context otherwise requires:(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 that would have passed to the disclaimant h…

This chapter applies to disclaimers of any interest in or power over property, whenever created.

(a) Unless displaced by 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 property under a law other than this chapter.

(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 provision or similar restriction on transfer or a restriction or limitation…

(a) As used in this section:(1) “Future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation; and(2) “Time of distribution” means the time when a disclaimed interest would have taken effect in possession or enjoy…

(a) Upon 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 (1) by the number of joint holders alive immediately before the death of the hol…

If a trustee disclaims an interest in property that otherwise would have become trust property, the interest does not become trust property.

(1) If a holder disclaims a power of appointment not held in a fiduciary capacity 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…

(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 a permissible appointee or taker in default…

(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 a power held in a fiduciary capacity which has been exerc…

(a) As used in this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of:(1) An annuity or insurance policy;(2) An account with a designation for payment on death;(3) A security registered in beneficiary form…

(a) (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:(1) The disclaimant accepts the interest sought to be disclaimed;(2) The …

(a) Notwithstanding this chapter, if as a result of a disclaimer or transfer the disclaimed or transferred interest is treated pursuant to title 26 of the United States code, as now or hereafter amended, or any successor statute thereto, and the regulations promulgated thereunder…

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 § 31-7-112(g)(2), failure to …

Except as otherwise provided in § 31-7-113, an interest in or power over property existing on May 10, 2019 as to which the time for delivering or filing a disclaimer under law superseded by this chapter has not expired may be disclaimed after May 10, 2019.

If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to that end the provision…