[§526-7]  Disclaimer of rights of
survivorship in jointly held property.  (a)  Upon the death of a holder of
jointly held property, a surviving holder may disclaim, in whole or part, the
greater of:



(1)  A fractional share of the property determined by
dividing the number one by the number of joint holders alive immediately before
the death of the holder to whose death the disclaimer relates; or



(2)  All of the property except that part of the value
of the entire interest attributable to the contribution furnished by the
disclaimant.



(b)  A disclaimer under subsection (a) takes
effect as of the death of the holder of jointly held property to whose death
the disclaimer relates.



(c)  An interest in jointly held property
disclaimed by a surviving holder of the property passes as if the disclaimant
predeceased the holder to whose death the disclaimer relates. [L 2000, c 43, pt
of §1]