Vermont S0179 enacts the Uniform Disclaimer of Property Interests Act, allowing individuals to refuse property interests or powers.

Vermont S0179, the Vermont Uniform Disclaimer of Property Interests Act, enables individuals to refuse property interests or powers, including powers of appointment. A surviving holder of jointly held property can disclaim a fractional share upon the death of another holder. A fiduciary can disclaim an interest or power over property, even if restrictions are imposed. The disclaimer takes effect at different times depending on the type of interest or power. The act also outlines the delivery requirements for disclaimers and specifies when a disclaimer is barred or limited.

Vermont S0179 enacts the Uniform Disclaimer of Property Interests Act, allowing individuals to refuse property interests or powers.

Vermont S0179, the Vermont Uniform Disclaimer of Property Interests Act, enables individuals to refuse property interests or powers, including powers of appointment. A surviving holder of jointly held property can disclaim a fractional share upon the death of another holder. A fiduciary can disclaim an interest or power over property, even if restrictions are imposed. The disclaimer takes effect at different times depending on the type of interest or power. The act also outlines the delivery requirements for disclaimers and specifies when a disclaimer is barred or limited.