Indiana Code 32-17.5-3-2. Fiduciary’s right to disclaim
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Sec. 2. Except to the extent a fiduciary‘s right to disclaim is expressly restricted or limited by another statute or by the instrument creating the fiduciary relationship, a fiduciary may disclaim, in whole or part, any interest in or power over property, including a power of appointment, whether acting in a personal or representative capacity. A fiduciary may disclaim the interest or power even if:
(2) an instrument other than the instrument that created the fiduciary relationship imposed a restriction or limitation on the right to disclaim.
(1) the creator of the power or interest imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim; or
Terms Used In Indiana Code 32-17.5-3-2
- Fiduciary: A trustee, executor, or administrator.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Statute: A law passed by a legislature.
As added by P.L.5-2003, SEC.1.