Disclaimer by surviving joint holder
Sec. 1. (a) Upon the death of a holder of jointly held property, a
surviving holder may disclaim, in whole or part, the greater of the
following:
(1) A fractional share of the property determined by dividing
one (1) by the number of joint holders alive immediately before
the death of the holder to whose death the disclaimer relates.
(2) All of the property except that part of the value of the entire
interest attributable to the contribution furnished by the
disclaimant.
(b) A disclaimer under subsection (a) takes effect as of the death
of the holder of jointly held property to whose death the disclaimer
relates.
(c) An interest in jointly held property disclaimed by a surviving
holder of the property passes as if the disclaimant predeceased the
holder to whose death the disclaimer relates.
As added by P.L.5-2003, SEC.1.
Last modified: May 24, 2006