Powell County Disclaimer of Interest Forms (Kentucky)

Form Package

Disclaimer of Interest

State

Kentucky

Area

Powell County

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$27.97

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Included Forms

All Powell County specific forms and documents listed below are included in your immediate download package:

Included Supplemental Documents

The following Kentucky and Powell County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Disclaimer of Interest Forms:

• Powell County

Including:

• Clay City
• Slade
• Stanton

What is the Kentucky Disclaimer of Interest

Under the Kentucky Revised Statutes, the beneficiary of an interest in property may renounce the gift, either in part or in full (KRS 394.610 to 670). 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 (KRS 394.640)

The disclaimer 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 (KRS 394.610 (2)).

File the disclaimer within nine months of the transfer (e.g., the death of the creator of the interest) to the District Court of the county in which proceedings have been commenced, or could commence, for the administration of the estate of the deceased. Also, deliver a copy of the disclaimer to the personal representative or any other fiduciary of the decedent or donee. In the case of real property, record a copy of the disclaimer in the office of the county clerk of the county in which the real estate is located (KRS 394.620 (3)).

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

(Kentucky DOI Package includes form, guidelines, and completed example)

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The documents you receive here will meet, or exceed, the Powell County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

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