Disclaimer by appointee, object, or taker in default of exercise of power of appointment
Known as the Tennessee Disclaimer of Property Interests Act
The act spans §§ 31–31 (17 sections).
Acts 2019, ch. 340, § 2.
(1) A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable.
(2) A disclaimer of an interest in property by a permissible appointee or taker in default of an exercise of a power of appointment takes effect as of the time the instrument creating the power becomes irrevocable.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.