§ 32-17.5-3-2 — Fiduciary's right to disclaim

Indiana § 32-17.5-3-2

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 17.5: UNIFORM DISCLAIMER OF PROPERTY
• Ch. 3: Power to Disclaim; Irrevocability of Disclaimer

Text

Except to the extent a fiduciary's right to
disclaim is expressly restricted or limited by another statute or by the
instrument creating the fiduciary relationship, a fiduciary may disclaim,
in whole or part, any interest in or power over property, including a
power of appointment, whether acting in a personal or representative
capacity. A fiduciary may disclaim the interest or power even if:
(1) the creator of the power or interest imposed a spendthrift
provision or similar restriction on transfer or a restriction or
limitation on the right to disclaim; or
(2) an instrument other than the instrument that created the
fiduciary relationship imposed a restriction or limitation on the
right to disclaim.

Legislative History

As added by P.L.5-2003, SEC.1.