§ 2518. Disclaimers
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/usc/title-26/section-2518A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)General rule For purposes of this subtitle, if a person makes a qualified disclaimer with respect to any interest in property, this subtitle shall apply with respect to such interest as if the interest had never been transferred to such person.
(b)Qualified disclaimer defined For purposes of subsection (a), the term “qualified disclaimer” means an irrevocable and unqualified refusal by a person to accept an interest in property but only if—
(1)such refusal is in writing,
(2)such writing is received by the transferor of the interest, his legal representative, or the holder of the legal title to the property to which the interest relates not later than the date which is 9 months after the later of—
(A)the day on which the transfer creating the interest in such person is made, or
(B)the day on which such person attains age 21,
(3)such person has not accepted the interest or any of its benefits, and
(4)as a result of such refusal, the interest passes without any direction on the part of the person making the disclaimer and passes either—
(A)to the spouse of the decedent, or
(B)to a person other than the person making the disclaimer.
(c)Other rules For purposes of subsection (a)—
(1)Disclaimer of undivided portion of interest A disclaimer with respect to an undivided portion of an interest which meets the requirements of the preceding sentence shall be treated as a qualified disclaimer of such portion of the interest.
(2)Powers A power with respect to property shall be treated as an interest in such property.
(3)Certain transfers treated as disclaimers A written transfer of the transferor’s entire interest in the property—
(A)which meets requirements similar to the requirements of paragraphs
(2)and
(3)of subsection (b), and
(B)which is to a person or persons who would have received the property had the transferor made a qualified disclaimer (within the meaning of subsection (b)),
shall be treated as a qualified disclaimer.
(Added Pub. L. 94–455, title XX, § 2009(b)(1), Oct. 4, 1976, 90 Stat. 1893; amended Pub. L. 95–600, title VII, § 702(m)(1), Nov. 6, 1978, 92 Stat. 2935; Pub. L. 97–34, title IV, § 426(a), Aug. 13, 1981, 95 Stat. 318; Pub. L. 97–448, title I, § 104(e), Jan. 12, 1983, 96 Stat. 2384.)
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U.S. Code
statutes-at-large
- Public Law 97–448To make technical corrections in the Economic Recovery Tax Act of 1981 and certain other recent tax legislation
- Public Law 97–34To amend the Internal Revenue Code of 1954 to encourage economic growth through reduction of the tax rates for individual taxpayers, acceleration of capital cost recovery of investment in plant, equipment, and real property, and incentives for savings, and for other purposes
- Public Law 95–600To amend the Internal Revenue Code of 1954 to reduce income taxes, and for other purposes
- Public Law 94–455To reform the tax laws of the United States
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U.S. Code
16 references not yet in our index
- Pub. L. 94–455, title XX, § 2009(b)(1)
- 90 Stat. 1893
- Pub. L. 95–600, title VII, § 702(m)(1)
- 92 Stat. 2935
- Pub. L. 97–34, title IV, § 426(a)
- 95 Stat. 318
- Pub. L. 97–448, title I, § 104(e)
- 96 Stat. 2384
- Pub. L. 97–448
- Pub. L. 97–34
- Pub. L. 95–600
- section 109 of Pub. L. 97–448
- Pub. L. 97–34, title IV, § 426(b)
- Pub. L. 95–600, title VII, § 702(m)(2)
- Pub. L. 94–455, title XX, § 2009(e)(2)
- 90 Stat. 1896
Citation graph
cites case law
§ 2518
Disclaimers
Stat.×7
U.S.C.×5
Fed. Reg.×4
Pub. L.Pub. L. 94–455, title XX, § 2009(b)(1)
Stat.90 Stat. 1893
Pub. L.Pub. L. 95–600, title VII, § 702(m)(1)
Stat.92 Stat. 2935
Pub. L.Pub. L. 97–34, title IV, § 426(a)
Cites 18 · showing 7Cited by 16 across 3 sources