Title 64.2, Title 64.2. Wills, Trusts, and Fiduciaries

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 effect in possession or enjoyment. B. Except for…

A. Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or in part, the greater of (i) a fractional share of the property determined by dividing the number one by the number of joint holders alive immediately before the death of the holde…

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

If a holder disclaims a power of appointment 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 becomes irrevocable. 2. If the holde…

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 an object or taker in default of an exercise …

A. 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. B. If a fiduciary disclaims a power held in a fiduciary capacity that has been exercised…

A. In this section, "beneficiary designation" means an instrument, other than an instrument creating a trust, naming the beneficiary of (i) an annuity or insurance policy; (ii) an account with a designation for payment on death; (iii) a security registered in beneficiary form; (i…

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: (i) the disclaimant accepts the interest sought to be disclaimed; (ii) the di…

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 any successor statute thereto, and t…

If an instrument transferring title to real property is disclaimed, a copy of the disclaimer shall be recorded in the office of the clerk of the circuit court for the jurisdiction where the real property is located. If any other interest in or power over property subject to a dis…

Except as otherwise provided in § 64.2-2611, an interest in or power over property existing on July 1, 2003, as to which the time for delivering or filing a disclaimer under law superseded by this chapter has not expired may be disclaimed after the effective date of this chapter.