(a) Notwithstanding this chapter, if as a result of a disclaimer or transfer the disclaimed or transferred interest is treated pursuant to title 26 of the United States code, as now or hereafter amended, or any successor statute thereto, and the regulations promulgated thereunder, as never having been transferred to the disclaimant, then the disclaimer or transfer is effective as a disclaimer under this chapter.
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Terms Used In Tennessee Code 31-7-114

  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • Disclaimant: means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made. See Tennessee Code 31-7-102
  • Disclaimer: means the refusal to accept an interest in or power over property. See Tennessee Code 31-7-102
  • Statute: A law passed by a legislature.
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) Tax qualified disclaimers must comply with the rules set forth in 26 U.S.C. § 2518, as now or hereafter amended, or any successor statute thereto, and the regulations promulgated thereunder, including the nine-month time limitation set forth under 26 U.S.C. § 2518(b)(2).
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