Virginia § 64.2-2609 Disclaimer of power held in fiduciary capacity

Virginia Statutes

§ 64.2-2609 — Disclaimer of power held in fiduciary capacity

Virginia § 64.2-2609

Title 64.2WILLS, TRUSTS, AND FIDUCIARIES

Subtitle VPROVISIONS APPLICABLE TO PROBATE AND NONPROBATE TRANSFERS

Ch. 26UNIFORM DISCLAIMER OF PROPERTY INTERESTS ACT

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Bluebook

Va. Code Ann. § 64.2-2609 (2026).

Text

A.If a fiduciary disclaims a power held in a fiduciary capacity that has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.

B.If a fiduciary disclaims a power held in a fiduciary capacity that has been exercised, the disclaimer takes effect immediately after the last exercise of the power.

C.A disclaimer under this section is effective as to another fiduciary if the disclaimer so provides and the fiduciary disclaiming has the authority to bind the estate, trust, or other person for whom the fiduciary is acting.

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A. If a fiduciary disclaims a power held in a fiduciary capacity that has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.

B. If a fiduciary disclaims a power held in a fiduciary capacity that has been exercised, the disclaimer takes effect immediately after the last exercise of the power.

C. A disclaimer under this section is effective as to another fiduciary if the disclaimer so provides and the fiduciary disclaiming has the authority to bind the estate, trust, or other person for whom the fiduciary is acting.