Arizona Laws 14-10013. When disclaimer barred or limited
A. A disclaimer is barred by a written waiver of the right to disclaim.
Terms Used In Arizona Laws 14-10013
- Disclaimant: means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made. See Arizona Laws 14-10002
- Disclaimer: means the refusal to accept an interest in or power over property. See Arizona Laws 14-10002
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means a personal representative, a trustee, an agent acting under a power of attorney or any other person who is authorized to act as a fiduciary with respect to the property of another person. See Arizona Laws 14-10002
- Person: means an individual or an organization. See Arizona Laws 14-1201
- Property: includes both real and personal property. See Arizona Laws 1-215
B. A disclaimer of an interest in property is barred if any of the following events occurs before the disclaimer becomes effective:
1. The disclaimant accepts the interest sought to be disclaimed.
2. The disclaimant voluntarily assigns, conveys, encumbers, pledges or transfers the interest sought to be disclaimed or contracts to do so.
3. 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 person who would have taken the interest under this chapter had the disclaimer not been barred.