2025 Session
Last amended: 2009 session
§ 524.2-1112 — Disclaimer by Appointee, Object, or Taker in Default of Exercise of Power of Appointment
Plain-Language Summary
A person who could receive property through someone else's power of appointment can disclaim that potential interest.
524.2-1112 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 irrevocable.
(b) A disclaimer of an interest in property by an object, or taker in default of an exercise of a power of appointment, takes effect as of the time the instrument creating the power becomes irrevocable.
History:
History: History:
2009 c 67 s 12
Practical Notes
If someone has the power to appoint property to you, you can disclaim your potential interest before it is actually appointed. The property then passes as if you were not a potential appointee.