[Text of section effective until July 1, 2011. Repealed by 2008, 521, Sec. 11. See 2008, 521, Sec. 44.]
Section 7. A disclaimer complying with all the applicable requirements of this chapter shall be effective according to its terms, and shall be irrevocable, upon execution in accordance with the provisions of section four, and filing in accordance with the provisions of section five.
If the interest in property being disclaimed is a power to appoint, consume, apply, or expend property, as described in clause (2) of the second paragraph of section one, or any fractional part, share, or portion thereof, such interest shall be extinguished.
Except as provided in the preceding paragraph, and unless such a result would substantially impair the provisions or intent of any instrument, statute or rule of law relating to the interest in property being disclaimed, such interest shall pass in the same manner as if the beneficiary had died immediately preceding the event determining that he, she or it is the beneficiary of such interest and that such interest is indefeasibly vested.
The interest in property being disclaimed shall never vest in the beneficiary.
Any person or other legal entity having custody or possession of the property, an interest in which is being disclaimed may file a complaint for instructions or complaint for declaratory judgment seeking a determination of the effect of a disclaimer, in
1. A probate court, if any, having jurisdiction of such property; or
2. If no probate court has jurisdiction of such property, any other court having jurisdiction of such property.
[Text of section effective until July 1, 2011. Repealed by 2008, 521, Sec. 11. See 2008, 521, Sec. 44.]
Section 7. A disclaimer complying with all the applicable requirements of this chapter shall be effective according to its terms, and shall be irrevocable, upon execution in accordance with the provisions of section four, and filing in accordance with the provisions of section five.
If the interest in property being disclaimed is a power to appoint, consume, apply, or expend property, as described in clause (2) of the second paragraph of section one, or any fractional part, share, or portion thereof, such interest shall be extinguished.
Except as provided in the preceding paragraph, and unless such a result would substantially impair the provisions or intent of any instrument, statute or rule of law relating to the interest in property being disclaimed, such interest shall pass in the same manner as if the beneficiary had died immediately preceding the event determining that he, she or it is the beneficiary of such interest and that such interest is indefeasibly vested.
The interest in property being disclaimed shall never vest in the beneficiary.
Any person or other legal entity having custody or possession of the property, an interest in which is being disclaimed may file a complaint for instructions or complaint for declaratory judgment seeking a determination of the effect of a disclaimer, in
1. A probate court, if any, having jurisdiction of such property; or
2. If no probate court has jurisdiction of such property, any other court having jurisdiction of such property.
[Text of section effective until July 1, 2011. Repealed by 2008, 521, Sec. 11. See 2008, 521, Sec. 44.]
Section 7. A disclaimer complying with all the applicable requirements of this chapter shall be effective according to its terms, and shall be irrevocable, upon execution in accordance with the provisions of section four, and filing in accordance with the provisions of section five.
If the interest in property being disclaimed is a power to appoint, consume, apply, or expend property, as described in clause (2) of the second paragraph of section one, or any fractional part, share, or portion thereof, such interest shall be extinguished.
Except as provided in the preceding paragraph, and unless such a result would substantially impair the provisions or intent of any instrument, statute or rule of law relating to the interest in property being disclaimed, such interest shall pass in the same manner as if the beneficiary had died immediately preceding the event determining that he, she or it is the beneficiary of such interest and that such interest is indefeasibly vested.
The interest in property being disclaimed shall never vest in the beneficiary.
Any person or other legal entity having custody or possession of the property, an interest in which is being disclaimed may file a complaint for instructions or complaint for declaratory judgment seeking a determination of the effect of a disclaimer, in
1. A probate court, if any, having jurisdiction of such property; or
2. If no probate court has jurisdiction of such property, any other court having jurisdiction of such property.
