Florida Statutes 739.402 – When disclaimer is barred or limited
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(1) A disclaimer is barred by a written waiver of the right to disclaim.
(2) A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective:
(a) The disclaimant accepts the interest sought to be disclaimed;
Terms Used In Florida Statutes 739.402
- Disclaimant: means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made. See Florida Statutes 739.102
- Disclaimer: means the refusal to accept an interest in or power over property. See Florida Statutes 739.102
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means a personal representative, trustee, agent acting under a power of attorney, guardian, or other person authorized to act as a fiduciary with respect to the property of another person. See Florida Statutes 739.102
- Insolvent: means , solely for purposes of this chapter, that the sum of a person's debts is greater than all of the person's assets at fair valuation and that the person is generally not paying his or her debts as they become due. See Florida Statutes 739.102
(b) The disclaimant voluntarily assigns, conveys, encumbers, pledges, or transfers the interest sought to be disclaimed or contracts to do so;
(c) The interest sought to be disclaimed is sold pursuant to a judicial sale; or
(d) The disclaimant is insolvent when the disclaimer becomes irrevocable.
(3) 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.
(4) 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.
(5) A disclaimer of an interest in, or a power over, property which is barred by this section is ineffective.