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.
2003, c. 253, § 64.1-196.9; 2012, c. 614.
Structure Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 26 - Uniform Disclaimer of Property Interests Act
§ 64.2-2602. Chapter supplemented by other law
§ 64.2-2603. Power to disclaim; general requirements; when irrevocable
§ 64.2-2604. Disclaimer of interest in property
§ 64.2-2605. Disclaimer of rights of survivorship in jointly held property
§ 64.2-2606. Disclaimer of interest by trustee
§ 64.2-2607. Disclaimer of power of appointment or other power not held in a fiduciary capacity
§ 64.2-2609. Disclaimer of power held in fiduciary capacity
§ 64.2-2610. Delivery or filing
§ 64.2-2611. When disclaimer barred or limited
§ 64.2-2612. Tax qualified disclaimer