New York Laws
Part 1 - Substantive Rules Governing Dispositions
2-1.11 - Renunciation of Property Interests

(a) A renunciation made in compliance with the provisions of this
section shall not necessarily constitute a qualified disclaimer within
the meaning of section 2518 of the Internal Revenue Code of 1986, as
amended, or for the purposes of the taxes imposed by article twenty-six
of the tax law.
(b) For purposes of this section:
(1) The term "disposition" shall include a disposition created under a
will or trust agreement including, without limitation, the granting of a
power of appointment, a disposition created by the exercise or
nonexercise of a power of appointment, a distributive share under 4-1.1,
a transfer created by a trust account as defined in 7-5.1, a transfer
created by a life insurance or annuity contract, a transfer resulting
from the creation of a joint tenancy or tenancy by the entirety,
succession to an interest occurring by operation of law on the death of
a joint tenant or tenant by the entirety, a transfer under an employee
benefit plan (including, without limitation, any pension, retirement,
death benefit, stock bonus or profit-sharing plan, system or trust), a
transfer of a security to a beneficiary pursuant to part 4 of article 13
of this chapter, any other disposition or transfer created by any
testamentary or nontestamentary instrument, or by operation of law, and
any of the foregoing created or increased by reason of a renunciation
made by another person.
(2) The effective date of the disposition for purposes of this section
shall be:
A. If the disposition is created by will, the exercise or nonexercise
of a testamentary power of appointment, a distribution pursuant to
4-1.1, the deposit of money in a trust account as defined in 7-5.1, the
registration of a security in beneficiary form pursuant to part 4 of
article 13 of this chapter, a life insurance or annuity contract, the
death of a joint tenant or tenant by the entirety, or an employee
benefit plan, the date of death of the deceased testator, holder of the
power of appointment, intestate, creator of the trust account,
registered owner of the security, insured, annuitant, other joint tenant
or tenant by the entirety, or employee, as the case may be;
B. If the disposition is created by trust agreement, the exercise of a
presently exercisable power of appointment, the creation of a joint
tenancy or tenancy by the entirety, or the renunciation of a disposition
created by another, the date as of which the transfer in trust is
irrevocable and is a completed gift for federal gift tax purposes
(regardless of whether a gift tax is imposed on the completed gift), the
date of the exercise of the power of appointment, the creation of a
joint tenancy or tenancy by the entirety, or renunciation, as the case
may be; and
C. If the disposition is created by any other testamentary or
nontestamentary instrument, or by operation of law, the date of the
event by which the beneficiary is finally ascertained.
Notwithstanding the foregoing, the effective date of a disposition which
is of a future estate shall be the date on which it becomes an estate in
possession.
(c) (1) Any beneficiary of a disposition may renounce all or part of
such beneficiary's interest; provided, however, that a surviving joint
tenant or tenant by the entirety may renounce the interest to which such
tenant succeeds, by operation of law upon the death of another joint
tenant or tenant by the entirety, to the extent such interest could be
the subject of a qualified disclaimer under section 2518 of the United
States Internal Revenue Code of 1986, as amended.
(2) Such renunciation shall be in writing, signed and acknowledged by
the person renouncing, and shall be filed in the office of the clerk of
the court having jurisdiction over the will or trust agreement governing
the property of which the disposition would otherwise be made or the
court which issued letters of administration, or if there is no probate
or administration, then in a surrogate's court provided by law as the
place of probate or administration of the decedent's estate, within nine
months after the effective date of the disposition. Such renunciation
shall be accompanied by an affidavit of the renouncing party that such
party has not received and is not to receive any consideration in money
or money's worth for such renunciation from a person or persons whose
interest is to be accelerated, unless payment of such consideration has
been authorized by the court. Notice of such renunciation, which shall
include a copy of the renunciation, shall be served personally or in
such manner as the court may direct upon the fiduciary directed by the
will or trust agreement to make the disposition or upon the
administrator or such other person who was directed to make the
disposition or upon any other person having custody or possession of or
legal title to the property, an interest in which is being renounced,
and by mail or in such manner as the court may direct upon all persons
whose interest may be created or increased by reason of such
renunciation. The time to file and serve such renunciation may be
extended, in the discretion of the court, on a petition showing
reasonable cause and on notice to such persons and in such manner as the
court may direct. The time limited in this section for filing and
serving such renunciation is exclusive, and shall not be suspended or
otherwise affected by any other provision of law; such renunciation
shall be effective as of the date of such filing, notwithstanding that
notice thereof may thereafter be required by the court.
(d) A renunciation may be made by:
(1) The guardian of the property of an infant, when so authorized by
the court having jurisdiction of the estate of the infant.
(2) The committee of an incompetent when so authorized by the court
that appointed the committee.
(3) The conservator of a conservatee, when so authorized by the court
that appointed the conservator.
(4) A guardian appointed under article eighty-one of the mental
hygiene law, when so authorized by the court that appointed the
guardian.
(5) The personal representative of a decedent, provided, however, that
the personal representative may seek authorization from the court having
jurisdiction of the estate of the decedent.
(6) An attorney-in-fact, when so authorized under a duly executed
power of attorney, provided, however, that any renunciation by an
attorney-in-fact of a person under disability shall not be effective
unless it is further authorized by the court with which the renunciation
must be filed under subparagraph two of paragraph (c) of this section,
and provided, further, that a renunciation by an attorney-in-fact of a
person not under disability may be made without court authorization,
unless the property which would have passed under said renunciation is,
by reason of said renunciation, disposed of in favor of such
attorney-in-fact or the spouse or issue of such attorney-in-fact, in
which case such renunciation shall not be effective unless either (A)
the instrument appointing such attorney-in-fact expressly authorizes a
renunciation in favor of such attorney-in-fact or the spouse or issue of
such attorney-in-fact, or (B) such renunciation has been authorized by
the court with which the renunciation must be filed under subparagraph
two of paragraph (c) of this section.
(e) Unless the creator of the disposition has otherwise provided, the
filing of a renunciation, as provided in this section, has the same
effect with respect to the renounced interest as though the renouncing
person had predeceased the creator or the decedent or, if the renounced
interest is a future estate, as though the renouncing person had died at
the time of filing or just prior to its becoming an estate in
possession, whichever is earlier in time, and shall have the effect of
accelerating the possession and enjoyment of subsequent interests, but
shall have no effect upon the vesting of a future estate which by the
terms of the disposition is limited upon a preceding estate other than
the renounced interest. If, pursuant to the preceding sentence, there
would occur a per stirpes disposition of the renounced interest or a
disposition or distribution of the renounced interest by representation,
then solely for purposes of applying 1-2.14 or 1-2.16, as the case may
be, the renouncing person shall be treated as having died on the same
date as, but immediately after, the creator or decedent or, if the
renounced interest is a future estate, as having died on the same date
as, but immediately after, its becoming an estate in possession or, if
the time of filing is earlier in time, on the same date as, but
immediately after, such filing. Such renunciation is retroactive to the
creation of the disposition. A person who has a present and a future
interest in property and renounces the present interest in whole or in
part shall be deemed to have renounced the future interest to the same
extent.
(f) A beneficiary may accept one disposition and renounce another, may
renounce a disposition in whole or in part, or with reference to
specific amounts, parts, fractional shares or assets thereof.
Notwithstanding the provisions of paragraph (e) of this section, a
renunciation by a surviving spouse of a decedent of a disposition
created by said decedent shall not be deemed to be a renunciation by
such spouse of all or any part of any other disposition to or in favor
of such spouse, regardless of whether the property which would have
passed under said renounced disposition is by reason of said
renunciation disposed of to or in favor of such spouse. Unless a
renouncing person has provided otherwise in his renunciation, the effect
of a renunciation of a fractional part of a disposition is to renounce
such fraction of all property to which the renouncing person is entitled
under the disposition.
(g) A renunciation may not be made under this section with respect to
any property which a renouncing person has accepted, except that an
acceptance does not preclude a person from renouncing all or part of any
property to which such person becomes entitled when another person
renounces after such acceptance. For purposes of this paragraph, a
person accepts an interest in property if such person voluntarily
transfers or encumbers, or contracts to transfer or encumber all or part
of such interest, or accepts delivery or payment of, or exercises
control as beneficial owner over all or part thereof, or executes a
written waiver of the right to renounce, or otherwise indicates
acceptance of all or part of such interest. A written waiver of the
right to renounce shall be binding on the person waiving and all parties
claiming by, through or under such person.
(h) A renunciation filed under this section is irrevocable.
(i) This section shall not abridge the right of any beneficiary or any
other person to assign, convey, release or renounce any property or
interest therein arising under any other section of this chapter or
other statute or under common law.
(j) Except as specifically provided in the trust instrument, the will,
any other instrument creating the disposition, or in this section, this

section shall apply to each disposition the effective date of which (as
defined in this section) is on or after the effective date of this
section, except that with respect to the renunciation of a future
interest this section shall apply as well to dispositions created or
increased prior to the effective date of this section.