Alaska Disclaimer of Interest

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Under the Alaska Statutes, the beneficiary of an interest in property may disclaim the gift, either in part or in full (AS 13.12.801 Uniform Disclaimer of Property Interests Act). Note that the option to disclaim is only available to beneficiaries who have not acted in any way to indicate acceptance or ownership of the interest (AS 13.12.801 (j)).

The document must be in writing and include a description of the interest, a declaration of intent to disclaim all or a defined portion of the interest, and be signed by the disclaimant (AS 13.12.801 (f)).

File the disclaimer within nine months of the transfer (e.g., the death of the creator of the interest) in the court of the judicial district that has jurisdiction over proceedings regarding the administration of the estate of the deceased donor. In addition, deliver a copy, either in person or via registered or certified mail with return receipt, to the personal representative or other fiduciary of the decedent or done (AS 13.12.801 (b)). If real property is involved, record a copy of the document in the office of the recording district in which the property is located in order to avoid any ambiguity regarding the chain of title (AS 13.12.801 (e)).

A disclaimer is irrevocable and binding for the disclaiming party and his or her creditors (AS 13.12.801 (i)), so be sure to consult an attorney when in doubt about the drawbacks and benefits. If the interest arises out of jointly-owned property, seek legal advice as well.

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