Section 89-22-21 - Disclaimer by appointee, object, or taker in default of exercise of power of appointment

(a) 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.(b) A disclaimer of an interest in property by an object 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.Added by Laws, 2020, ch. 406, SB 2851,§ 77, eff. 7/1/2020.