Code of Virginia § 64.2-2611. When disclaimer barred or limited.
227 words·~1 min read·
/va/title-64-2/chapter-26/64-2-2611A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. A disclaimer is barred by a written waiver of the right to disclaim.
B. A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective:
(i)the disclaimant accepts the interest sought to be disclaimed;
(ii)the disclaimant voluntarily assigns, conveys, encumbers, pledges, or transfers the interest sought to be disclaimed or contracts to do so; or
(iii)a judicial sale of the interest sought to be disclaimed occurs.
C. A disclaimer, in whole or in part, of the future exercise of a power held in a fiduciary capacity is not barred by its previous exercise.
D. A disclaimer, in whole or in part, of the future exercise of a power not held in a fiduciary capacity is not barred by its previous exercise unless the power is exercisable in favor of the disclaimant.
E. A disclaimer is barred or limited if so provided by law other than this chapter.
F. A disclaimer of a power over property that is barred by this section is ineffective. A disclaimer of an interest in property that is barred by this section takes effect as a transfer of the interest disclaimed to the persons who would have taken the interest under this chapter had the disclaimer not been barred.
2003, c. 253 , § 64.1-196.12; 2012, c. 614 .