DISCLAIMERS

3A:25-40.  Devisee, beneficiary or appointee under testamentary instrument,  or heir;  whole or fractional share
Any person who is a devisee or beneficiary under a testamentary instrument,  or appointee under a power of appointment exercised by a testamentary  instrument, including a person succeeding to a disclaimed interest, or an heir  may disclaim in whole or in part the right of succession to any property or  interest therein, including a future interest, by filing a disclaimer under  this act.  A disclaimer may be of a fractional share, expressed as either a  percentage or dollar amount, or any limited interest or estate.

L.1979, c. 484, s. 2 eff. Feb. 28, 1980.

3A:25-41.  Instrument;  formalities;  contents
The instrument disclaiming shall be in writing, signed and acknowledged by the person disclaiming, and shall (1) describe the property or interest disclaimed, and if real property, the municipality and county wherein the real property is situated (2) declare the disclaimer and extent thereof.

L.1979, c. 484, s. 3 eff. Feb. 28, 1980.

3A:25-42  Disclaimer on behalf of decedent, minor or incapacitated person by personal representative or guardian.

4.A disclaimer on behalf of a decedent, minor, or incapacitated person may be made by the personal representative of the decedent or the guardian of the estate of the minor or incapacitated person.  Such disclaimer shall not be effective unless, prior thereto, the personal representative or guardian has been authorized to disclaim by the court having jurisdiction of the estate of the decedent, minor, or incapacitated person, after finding that it is advisable and will not materially prejudice the rights of creditors, devisees, heirs, or beneficiaries of the decedent, the minor, or incapacitated person or his creditors, as the case may be.

L.1979, c.484, s.4; amended 2013, c.103, s.20.

3A:25-43.  Time of filing of instrument
a.  The instrument disclaiming a present interest shall be filed not later than 9 months after the death of the decedent or of the donee of the power.

b.  The instrument disclaiming a future interest shall be filed not later than 9 months after the happening of the event which determines the taker’s right to possession, use or enjoyment of the property or interest.

c.  The time within which a disclaimer shall be filed may be extended by the  court for reasonable cause, and on notice to such persons and in such manner as  the court may direct.

L.1979, c. 484, s. 5 eff. Feb. 28, 1980.

3A:25-44.  Place of filing;  delivery of copy to personal representative, fiduciary of decedent or donee of power or holder of legal title;  real estate;   recordation;  book of  “Disclaimers”
a.  The disclaimer shall be filed in the office of the surrogate or Superior  Court in which proceedings have been commenced or will be commenced for the  administration of the estate of the decedent or deceased donee of the power.  A  copy of such disclaimer shall also be delivered in person or mailed by  registered or certified mail to any personal representative, other fiduciary of  the decedent or donee of the power or to the holder of the legal title to which  the interest relates.

b.  If real property or any interest therein is disclaimed, the surrogate or  clerk of the superior court, as the case may be, shall forthwith forward a copy  of the disclaimer for filing in the office of the clerk or register of deeds  and mortgages of the county in which the real property is situated. Each  county clerk or register of deeds and mortgages shall provide a book to be  entitled  “Disclaimers” , so arranged that he may record therein:

(1) The name of the disclaimant;

(2) The name of the decedent or the name of the donee of the power of appointment;

(3) The location of the property;

(4) The file number of the county clerk’s office or the office of register of deeds and mortgages indorsed upon each disclaimer filed;

(5) The date of filing the disclaimer.

The county clerk or the register of deeds and mortgages shall maintain in said record an alphabetical index of the names of all disclaimants stated in any disclaimer file, and also keep in his office for public inspection, all disclaimers so filed therein.

L.1979, c. 484, s. 6 eff. Feb. 28, 1980.

3A:25-45.  Devolution of disclaimed property or interest;  relation back to  date of death
Unless the decedent or donee of the power has otherwise provided, the property or interest disclaimed devolves (a) as to a present interest, as if the disclaimant had predeceased the decedent or, if the disclaimant is designated to take under a power of appointment exercised by a testamentary instrument, as if the disclaimant had predeceased the donee of the power, and (b) as to a future interest as if the disclaimant had died before the event determining that the taker of the property or interest had become finally ascertained and his interest indefeasibly vested.  A disclaimer relates back for all purposes to the date of death of the decedent or the donee of the power.

L.1979, c. 484, s. 7 eff. Feb. 28, 1980.

3A:25-46.  Bar of right to disclaim
The right of a person to disclaim property or any interest therein is barred  if the property or interest is seized under judicial process issued against the  person before the expiration of the period in which he is permitted to  disclaim;  or if before the expiration of the period in which he is permitted  to disclaim, the person (1) accepts or exercises control as beneficial owner  over all or any part of such property or interest;  or (2) voluntarily  transfers or encumbers or contracts to transfer or encumber all or any part of  such property or interest;  or (3) disclaims or attempts to disclaim all or any  part of such property or interest in fraud of his creditors as set forth in the  Uniform Fraudulent Conveyance Law (R.S. 25:2-7 et seq.);  or (4) executes a  written waiver of the right to disclaim.

L.1979, c. 484, s. 8 eff. Feb. 28, 1980.

3A:25-47.  Binding effect
The disclaimer or the written waiver of the right to disclaim shall be binding upon the disclaimant or person waiving and all persons claiming by, through or under him.

L.1979, c. 484, s. 9.

3A:25-48.  Existence of right notwithstanding limitation
The right to disclaim exists notwithstanding any limitation on the interest  of the disclaimant in the nature of a spendthrift provision or similar  restriction.

L.1979, c. 484, s. 10 eff. Feb. 28, 1980.

3A:25-49.  Continuance of rights under other statutes
This act does not abridge the right of a person to waive, release, disclaim  or renounce property or an interest therein under any other statute.

L.1979, c. 484, s. 11 eff. Feb. 28, 1980.

3A:25-50.  Interests in property existing on effective date of act
An interest in property existing on the effective date of this act as to which, if a present interest, the time for filing a disclaimer under this act has not expired, or if a future interest, the interest has not become indefeasibly vested or the taker finally ascertained, may be disclaimed within 9 months after the effective date of this act.

L.1979, c. 484, s. 12 eff. Feb. 28, 1980.