TITLE 34
Property

CHAPTER 34-5
Disclaimer of Certain Property Interests

SECTION 34-5-7


§ 34-5-7 Reliance on disclaimer.

(a) No person or other legal entity having legal title to or possession of the property, an interest in which is being or has been disclaimed, shall be liable for any distribution or other disposition made prior to the delivery to him, her, or it of a copy of the disclaimer, pursuant to the requirements of § 34-5-6; and no person or other legal entity shall be liable for any good faith distribution or other disposition made in reliance upon a disclaimer, the form of which is in accordance with the requirements of § 34-5-4; and a copy of which has been delivered to him, her, or it pursuant to the requirements of § 34-5-6.

(b) If a disclaimer certifies, with particularity, that none of the contingencies specified in § 34-5-9, which would result in waiver or bar of the beneficiary's right to disclaim, are applicable, any person or other legal entity having legal title to or possession of the property, and any third party purchaser of the property, an interest in which is being or has been disclaimed, shall be entitled to rely without further inquiry upon the certifications.

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