(a)  The right to disclaim an interest in property shall be barred by:

(1)  Assignment, conveyance, encumbrance, pledge, transfer or other disposition of the interest, or any contract therefor, by the beneficiary;

(2)  Sale or other disposition of the interest pursuant to judicial process made before the beneficiary has disclaimed the interest as provided in this chapter;

(3)  A written waiver of the right to disclaim this interest pursuant to the provisions of this chapter, signed by the beneficiary, the duly appointed guardian or conservator of a beneficiary, or the legal representative of a deceased beneficiary’s estate.

(4)  Acceptance of the interest by the beneficiary; if the beneficiary, having knowledge of the existence of the interest, receives without objection a benefit from that interest, such receipt shall be deemed to constitute acceptance of the interest.

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Terms Used In Rhode Island General Laws 34-5-9

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Beneficiary: means any person to whom, and any estate, trust, corporation, or other legal entity to which, an interest in property would pass in any manner described in § 34-5-2, except for the execution and filing of a disclaimer in accordance with the provisions of this chapter. See Rhode Island General Laws 34-5-1
  • Contract: A legal written agreement that becomes binding when signed.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.

(b)  The assignment, conveyance, encumbrance, pledge, transfer or other disposition or any contract therefor, sale or other disposition pursuant to judicial process, written waiver of the right to disclaim, or acceptance of a part of an interest in property shall not bar the right to disclaim any other part of the interest.

History of Section.
P.L. 1980, ch. 392, § 2.