(1) Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or part, the greater of:
(a) A fractional share of the property determined by dividing the number one by the number of joint holders alive immediately before the death of the holder to whose death the disclaimer relates; or
(b) All of the property except that part of the value of the entire interest attributable to the contribution furnished by the disclaimant.
(2) A disclaimer under subsection (1) of this section takes effect upon the death of the holder of jointly held property to whose death the disclaimer relates.
(3) 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. [2001 c.245 §7]
Section: Previous 105.626 105.627 105.628 105.629 105.630 105.632 105.633 105.634 105.635 105.636 105.637 105.638 105.639 105.640 105.641 NextLast modified: August 7, 2008