Virginia Code 64.2-2612: Tax qualified disclaimer
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Notwithstanding any other provision of this chapter, if as a result of a disclaimer or transfer the disclaimed or transferred interest is treated pursuant to the provisions of Title 26 of the United States Code, as now or hereafter amended, or any successor statute thereto, and the regulations promulgated thereunder, as never having been transferred to the disclaimant, then the disclaimer or transfer is effective as a disclaimer under this chapter.
Terms Used In Virginia Code 64.2-2612
- Disclaimant: means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made. See Virginia Code 64.2-2600
- Disclaimer: means the refusal to accept an interest in or power over property. See Virginia Code 64.2-2600
- Statute: A law passed by a legislature.
- United States: includes the 50 states, the District of Columbia the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands and the United States Virgin Islands. See Virginia Code 1-255