§ 34-5-5 - Time for filing disclaimer.
SECTION 34-5-5
§ 34-5-5 Time for filing disclaimer.– (a) A disclaimer shall be executed and filed pursuant to the provisions of thischapter at any time after the creation of the interest in property beingdisclaimed, but in any event:
(1) If a present interest, not later than nine (9) months:
(A) After the death of the deceased owner in the case of atestamentary disposition, or
(B) After the effective date of the instrument creating theinterest in the case of a nontestamentary disposition, or
(2) If a future interest, not later than nine (9) monthsafter the event determining that the taker of the interest is in possession ofit, or
(3) In the case of a beneficiary who is a surviving jointtenant or tenant by the entirety, not later than nine (9) months after thedeath of the other joint tenant, tenants, or tenant by the entirety, or
(4) Notwithstanding the foregoing provisions, in the case ofa beneficiary under the age of twenty-one (21) at the creation of the interest,not later than nine (9) months after his or her attainment of that age;provided, that any court having jurisdiction of the property, an interest inwhich is being disclaimed, may, upon petition filed by the beneficiary, theduly appointed guardian or conservator of a beneficiary, or the legalrepresentative of a deceased beneficiary's estate, permit an extension of timeto execute and file a disclaimer, for any further period of time as the courtin its discretion deems advisable.
(b) The effective date of a revocable instrument is the dateon which the grantor no longer has the power to revoke it or to transfer tohimself or herself or another the entire legal and equitable ownership of theinterest.