(a)  A disclaimer shall be executed and filed pursuant to the provisions of this chapter at any time after the creation of the interest in property being disclaimed, but in any event:

(1)  If a present interest, not later than nine (9) months:

(i)  After the death of the deceased owner in the case of a testamentary disposition, or

(ii)  After the effective date of the instrument creating the interest in the case of a nontestamentary disposition, or

(2)  If a future interest, not later than nine (9) months after the event determining that the taker of the interest is in possession of it, or

(3)  In the case of a beneficiary who is a surviving joint tenant or tenant by the entirety, not later than nine (9) months after the death of the other joint tenant, tenants, or tenant by the entirety, or

(4)  Notwithstanding the foregoing provisions, in the case of a beneficiary under the age of twenty-one (21) at the creation of the interest, not later than nine (9) months after his or her attainment of that age; provided, that any court having jurisdiction of the property, an interest in which is being disclaimed, may, upon petition filed by the beneficiary, the duly appointed guardian or conservator of a beneficiary, or the legal representative of a deceased beneficiary’s estate, permit an extension of time to execute and file a disclaimer, for any further period of time as the court in its discretion deems advisable.

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

  • 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
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Grantor: The person who establishes a trust and places property into it.
  • 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.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

(b)  The effective date of a revocable instrument is the date on which the grantor no longer has the power to revoke it or to transfer to himself or herself or another the entire legal and equitable ownership of the interest.

History of Section.
P.L. 1980, ch. 392, § 2; P.L. 1984, ch. 81, § 8; P.L. 1996, ch. 395, § 1; P.L. 2011, ch. 363, § 13.