Source: https://disclaimers.uslegal.com/disclaimer-of-property-interest/kentucky-disclaimer-of-property-interest-law/
Timestamp: 2020-08-04 19:23:53
Document Index: 426907129

Matched Legal Cases: ['§394', '§394', '§394', '§394', '§394', '§394', '§394']

Kentucky Disclaimer of Property Interest Law – Disclaimers
Kentucky Disclaimer of Property Interest Law
Wills and Estates – Disclaimer of Property Interest – Kentucky
Kentucky Renunciation and Disclaimer of Joint…
Kentucky Renunciation and Disclaimer of…
Kentucky Renunciation and Disclaimer of Real…
Right to disclaim succession.
(1) As used in this section, the “legal representative of a living person” includings the person’s conservator, limited conservator, guardian, limited guardian, and attorney-in-fact.
(2) A living person, or the legal representative of a living person, who is an heir, next of kin, devisee, legatee, joint tenant, person succeeding to a desclaimed interest, beneficiary under a testamentary instrument, or appointee under a power of appointment execised by a testamentary instrument, may desclaim in whole or in part the right of succession to any property or interest therein, including a future interest, by filing a written disclaimer under KRS 394.610 to 394.670. The right to disclaim shall survive the death of the person having it and may be exercised by the personal representative of such person’s estate without authorization of the court having jurisdiction over the estate of the person. The instrument shall;
(3) No disclaimer by a living person’s legal representative, except for the person’s attorney-in-fact, shall be made unless the court having jurdiction of the estate of the disabled, incapacitated, or protected person has authorized the disclaimer. No disclaimer by the person’s attorney-in-fact shall be made unless the instrument governing the attorney-in-fact authority expressly authorizes a disclaimer.
Title XXXIV, Chap. 394, §394.610
Time and place of filing disclaimer.
(1) An instrument disclaiming a present interest shall be filed not later than nine (9) months after the death of the decedent or the donee of the power.
(2) An instrument disclaiming a future interest shall be filed not later than nine (9) months after the event that determines that the taker of the property or interest is finally ascertained and his interest indefeasibly vested.
(3) The disclaimer shall be filed in the district court of the county in which proceedings have been commenced for the administration of the estate of the deceased owner or deceased donee of the power or, if they have not been commenced, in which they could be commenced. A copy of the disclaimer shall be delivered in person or mailed by registered or certified mail to any personal representative, or other fiduciary of the decedent or donee of the power. If real property or an interest therein is disclaimed, a copy of the disclaimer may be recorded in the office of the county clerk of the county in which the real estate is situated.
Title XXXIV, Chap. 394, §394.620.
Unless the decedent or donee of the power has otherwise provided, the property or interest disclaimed devolves as if the disclaimant had predeceased the decedent or, if the disclaimant is designated to take under a power of appointment exercised by a testamentary instrument, as if the disclaimant had predeceased the donee of the power. A future interest that takes effect in possession or enjoyment after the termination of the estate or interest disclaimed takes effect as if the disclaimant had predeceased the decedent or the donee of the power. A disclaimer relates back for all purposes to the date of the death of the decedent or the donee of the power.
Title XXXIV, Chap. 394, §394.630.
(1) The right to disclaim property or an interest therein is barred by (a) an assignment, conveyance, encumbrance, pledge, or transfer of the property or interest, or a contract therefor, (b) a written waiver of the right to disclaim, (c) an acceptance of the property or interest or benefit thereunder, or (d) a sale of the property or interest under judicial sale made before the disclaimer is effected.
(2) The right to disclaim exists notwithstanding any limitation on the interest of the disclaimant in the nature of a spendthrift provision or similar restriction.
(3) The disclaimer or the written waiver of the right to disclaim is binding upon the disclaimant or person waiving and all persons claiming through or under him.
Title XXXIV, Chap. 394, §394.640.
KRS 394.610 to 394.670 does not abridge the right of a person to waive, release, disclaim, or renounce property or an interest therein under any other statute.
Title XXXIV, Chap. 394, §394.650.
Application. [Repealed.]
Title XXXIV, Chap. 394, §394.660.
KRS 394.610 to 394.670 shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of KRS 394.610 to 394.670 among states enacting it. Title XXXIV, Chap. 394, §394.670.
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