Property Rights

ORS 105.629
Power to disclaim

  • general requirements
  • when irrevocable


(1)

A person may disclaim, in whole or part, any interest in property or any power over property, including a power of appointment. A person may disclaim the interest or power even if the person who created the interest or power imposed a spendthrift provision or similar restriction on transfer or imposed a restriction or limitation on the right to disclaim.

(2)

Except to the extent that a fiduciary’s right to disclaim is expressly restricted or limited by another statute of this state or by the instrument creating the fiduciary relationship, a fiduciary may disclaim, in whole or part, any interest in property or power over property, including a power of appointment, without regard to whether the fiduciary is acting in a personal or representative capacity. A fiduciary may disclaim the interest or power even if the creator of the interest or power imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim, or an instrument other than the instrument that created the fiduciary relationship imposed a restriction or limitation on the right to disclaim.

(3)

To be effective, a disclaimer must:

(a)

Be in writing or otherwise recorded by inscription on a tangible medium or by storage in an electronic or other medium in a manner that allows the disclaimer to be retrieved in perceivable form;

(b)

Declare that the person disclaims the interest in the property or in the power;

(c)

Describe the interest in property or power over property that is disclaimed;

(d)

Be signed by the person making the disclaimer; and

(e)

Be delivered or filed in the manner provided in ORS 105.642 (Delivery or filing).

(4)

A partial disclaimer may be expressed as a fraction, percentage, monetary amount, term of years, limitation of a power or as any other interest or estate in the property.

(5)

A disclaimer is irrevocable when the disclaimer is delivered or filed pursuant to ORS 105.642 (Delivery or filing) or when the disclaimer becomes effective as provided in ORS 105.633 (Disclaimer of interest in property) to 105.641 (Disclaimer of power held in fiduciary capacity), whichever occurs later.

(6)

A disclaimer made under ORS 105.623 (Short title) to 105.649 (Uniformity of application and construction) is not a transfer, assignment or release. [2001 c.245 §5]
§§ 105.625 to 105.640

See annotations under ORS 105.623 to 105.649.

§§ 105.623 to 105.649

Law Review Citations

Under Former Similar Statutes (Ors 105.625 to 105.640)

24 WLR 41 (1988)

Chapter 105

Atty. Gen. Opinions

Private process server in a forcible entry and detainer action, (1975) Vol 37, p 869


Source

Last accessed
Jun. 26, 2021