Disclaimer of Certain Property Interests

SECTION 34-5-1

§ 34-5-1. Definitions.

The following words as used in this chapter shall have these meanings:

(1) "Beneficiary" means any person to whom, and any estate, trust, corporation, or other legal entity to which, an interest in property would pass in any manner described in § 34-5-2, except for the execution and filing of a disclaimer in accordance with the provisions of this chapter.

(2) An "interest in property" which may be disclaimed shall include:

(i) Any legal or equitable interest or estate, whether present, future, or contingent, in any real or personal property, or in any fractional part, share, or portion thereof, or in any dollar amount thereof, or in any specific asset or assets thereof;

(ii) Any fractional part, share or portion of any interest described in subdivision (i), or remainder or life estate or other lesser estate therein.

History of Section.
(P.L. 1980, ch. 392, § 2.)