Delaware § 611 Disclaimer by appointee, permissible appointee, or taker in default of exercise of power of appointment

Delaware Statutes

§ 611 — Disclaimer by appointee, permissible appointee, or taker in default of exercise of power of appointment

Delaware·Title 12·Part Descent and Distribution; Escheat·Ch. 6 DISCLAIMER

(a)A disclaimer of an interest in property by an appointee of such interest in property as a result of an exercise of a power of appointment by a holder takes effect as of the time the instrument by which the holder exercised the power becomes irrevocable.

(b)A disclaimer of an interest in property by a permissible appointee of an interest in property or by a taker of an interest in property as a result of a holder’s failure to effectively exercise a power of appointment granted to such holder (a taker in default) takes effect as of the time the instrument creating the power of appointment becomes irrevocable.

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(a) A disclaimer of an interest in property by an appointee of such interest in property as a result of an exercise of a power of appointment by a holder takes effect as of the time the instrument by which the holder exercised the power becomes irrevocable.

(b) A disclaimer of an interest in property by a permissible appointee of an interest in property or by a taker of an interest in property as a result of a holder’s failure to effectively exercise a power of appointment granted to such holder (a taker in default) takes effect as of the time the instrument creating the power of appointment becomes irrevocable.

Delaware § 611 (Disclaimer by appointee, permissible appointee, or taker in default of exercise of power of appointment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.