(a) A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable.
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Terms Used In Tennessee Code 31-7-110

  • Disclaimer: means the refusal to accept an interest in or power over property. See Tennessee Code 31-7-102
  • Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Tennessee Code 31-1-101
(b) A disclaimer of an interest in property by a permissible appointee or taker in default of an exercise of a power of appointment takes effect as of the time the instrument creating the power becomes irrevocable.
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