(a) Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or part, the greater of:

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Terms Used In Tennessee Code 31-7-107

  • 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
  • Jointly held property: means property held in the name of two (2) or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property. See Tennessee Code 31-7-102
  • Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Tennessee Code 31-1-101
(1) A fractional share of the property determined by dividing the number one (1) by the number of joint holders alive immediately before the death of the holder to whose death the disclaimer relates; or
(2) All of the property except that part of the value of the entire interest attributable to the contribution furnished by the disclaimant.
(b) A disclaimer under subsection (a) takes effect as of the death of the holder of jointly held property to whose death the disclaimer relates.
(c) 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.
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