(a)Acceptance.--A disclaimer may be made at any time before acceptance. An acceptance may be express or may be inferred from actions of the person entitled to receive an interest in property such as the following:
(1)The taking of possession or accepting delivery of the property or interest.
(2)A written waiver of the right to disclaim.
(3)An assignment, conveyance, encumbrance, pledge or other transfer of the interest or a contract to do so.
(4)A representation that the interest has been or will be accepted to a person who relies thereon to his detriment.
(5)A sale of the interest under a judicial sale.
To constitute a bar to a disclaimer, a prior acceptance must be affirmatively proved. The mere lapse of time, with or without knowledge of the interest on the part of the discl
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(a) Acceptance.--A disclaimer may be made at any time before acceptance. An acceptance may be express or may be inferred from actions of the person entitled to receive an interest in property such as the following:
(1) The taking of possession or accepting delivery of the property or interest.
(2) A written waiver of the right to disclaim.
(3) An assignment, conveyance, encumbrance, pledge or other transfer of the interest or a contract to do so.
(4) A representation that the interest has been or will be accepted to a person who relies thereon to his detriment.
(5) A sale of the interest under a judicial sale.
To constitute a bar to a disclaimer, a prior acceptance must be affirmatively proved. The mere lapse of time, with or without knowledge of the interest on the part of the disclaimant, shall not constitute an acceptance.
(b) Partial acceptance within six months.--The acceptance of part of a single interest shall be considered as only a partial acceptance and will not be a bar to a subsequent disclaimer of any part or all of the balance of the interest if the part of the interest is accepted before the expiration of six months from:
(1) the death of the decedent in the case of an interest that would have devolved by will or intestacy; or
(2) the effective date of the transfer in the case of an interest that would have devolved by an inter vivos transfer or third-party beneficiary contract.
In applying this subsection to an interest that would have devolved by reason of the exercise of a power of appointment, the person exercising the power shall be regarded as the decedent or the transferor, as the case may be.
(c) Partial acceptance after six months.--The acceptance of a part of a single interest after the expiration of such six-month period shall be considered an acceptance of the entire interest and a bar to any subsequent disclaimer thereof but shall not be an acceptance of any separate interest given under the same instrument. In construing this subsection:
(1) income for life or any other period shall be considered a single interest but separate from any interest in the principal or any additional interest in income to take effect upon the happening of a future event; and
(2) an interest in periodic payments to be made from principal or income, or both, for the life of the beneficiary or any other period shall be considered a single interest but separate from any additional payments to be made upon the happening of a future event.