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Delaware Disclaimer of Interest

Delaware Disclaimer of Property Interest

Under the Delaware Code, the beneficiary of an interest in property may disclaim the gift, either in part or in full (12 Del. C. 601 to 617, Delaware Disclaimer 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 ( 614).

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 ( 605 (c)).

Within nine months of the transfer (e.g., the death of the creator of the interest), deliver the document to the personal representative of the decedent's estate or the trustee. In addition, file it with the court that has jurisdiction over proceedings regarding the administration of the estate ( 612 (b)). If real property is involved, have document acknowledged as a deed and record a copy of it with the register of deeds in the county where the property is located in order to establish general validity ( 613).

A disclaimer is irrevocable and binding for the disclaiming party and his or her creditors ( 605 (e)), 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. Delaware Disclaimer of Interest Forms Have Been Updated as Recently as Tuesday August 20, 2019

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Delaware Disclaimer of Interest Form