Michigan Laws 700.2910 – Barring right to disclaim
Current as of: 2023 | Check for updates
|
Other versions
(1) The right to disclaim property is barred by any of the following events that occur after the event giving rise to the right to disclaim and before the disclaimer is perfected:
(a) An assignment, conveyance, encumbrance, pledge, or transfer of the property, or a contract for such a transaction.
Terms Used In Michigan Laws 700.2910
- Contract: A legal written agreement that becomes binding when signed.
- Disclaimable interest: includes , but is not limited to, property, the right to receive or control property, and a power of appointment. See Michigan Laws 700.2901
- Joint property: means property that is owned by 2 or more persons with rights of survivorship, and includes a tenancy by the entireties in real property, a tenancy in personal property as provided in section 1 of 1927 PA 212, MCL 557. See Michigan Laws 700.2901
- Property: means anything that may be the subject of ownership. See Michigan Laws 700.2901
(b) A written waiver of the right to disclaim.
(c) An acceptance of the disclaimable interest or a benefit under the disclaimable interest after actual knowledge that a property right has been conferred.
(d) A sale of the property under judicial sale.
(e) The expiration of the permitted applicable perpetuities period.
(2) The right to disclaim is barred to the extent provided by other applicable law. A partial bar does not preclude the disclaimant from disclaiming all or any part of the balance of the property if the disclaimant has received a portion of the property and there still remains an interest that the disclaimant is yet to receive. An act that bars the right to disclaim a present interest in joint property does not bar the right to disclaim a future interest in joint property.