Indiana § 32-17.5-6-2 Disclaiming power of appointment

Indiana Statutes

§ 32-17.5-6-2 — Disclaiming power of appointment

Indiana § 32-17.5-6-2

Title 32PROPERTY

Art. 17.5UNIFORM DISCLAIMER OF PROPERTY

Ch. 6Disclaimer of Certain Powers or Interests

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Bluebook

Ind. Code § 32-17.5-6-2 (2026).

Text

If the holder of a power of appointment or other power not held in a fiduciary capacity disclaims the power, the following rules apply:

(1)If the holder has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.

(2)If the holder has exercised the power and the disclaimer is of a power other than a presently exercisable general power of appointment, the disclaimer takes effect immediately after the last exercise of the power.

(3)The instrument creating the power is construed as if the power expired when the disclaimer became effective.

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If the holder of a power of appointment or
other power not held in a fiduciary capacity disclaims the power, the
following rules apply:
(1) If the holder has not exercised the power, the disclaimer takes
effect as of the time the instrument creating the power becomes
irrevocable.
(2) If the holder has exercised the power and the disclaimer is of
a power other than a presently exercisable general power of
appointment, the disclaimer takes effect immediately after the last
exercise of the power.
(3) The instrument creating the power is construed as if the power
expired when the disclaimer became effective.