31B-4.1. Tax qualified renunciation.
If, as a result of a renunciation, the renounced property 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 the regulations promulgated thereunder, as never having been transferred to the person whose property or interest is being renounced, then the renunciation is an effective renunciation, notwithstanding any other provision of this Chapter. This section does not preclude an action for breach of fiduciary duty. (2009-48, s. 8.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 31B - Renunciation of Property and Renunciation of Fiduciary Powers Act
§ 31B-1 - Right to renounce succession.
§ 31B-1.1 - Right of fiduciary to renounce.
§ 31B-1.2 - Right of fiduciary to institute a proceeding for review of renunciation.
§ 31B-1A - Recodified as G.S31B-1.1.
§ 31B-2 - Filing and registering of renunciations; failure to file or register; spouse's interest.
§ 31B-2.1 - Delivery to other persons of instrument of renunciation by the person renouncing.
§ 31B-3 - Effect of renunciation.
§ 31B-4.1 - Tax qualified renunciation.