Disclaimer by appointee, object, or taker in default of exercise of power of appointment
(1) 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.
(2) 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.
| EnactedEn. SectionSec. 48, ChapterCh. 313, Laws ofL. 2019 (SB 225 - Fitzpatrick, Steve (R) SD 10) |