Sec. 2903.
(1) A disclaimer is not valid unless it complies with all of the following:
(a) Is in writing.
(b) Declares the disclaimer.
(c) Describes the disclaimed interest.
(d) Is signed by the disclaimant.
(e) Is delivered as provided in sections 2904, 2905, and 2906.
(2) If a disclaimable interest is disclaimed by a fiduciary on behalf of the person to whom the disclaimable interest devolves, the disclaimer must be signed by all incumbent fiduciaries. Unless the governing instrument requires otherwise, a disclaimer of a disclaimable interest by a trustee may be signed by less than all incumbent trustees. A disclaimer of a fiduciary power by a fiduciary may be signed by less than all incumbent fiduciaries.
History: 1998, Act 386, Eff. Apr. 1, 2000
Popular Name: EPIC
Last modified: October 10, 2016