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Vermont Disclaimer of Interest Form

Vermont Disclaimer of Property Interest

Under the Vermont Statutes, the beneficiary of an interest in property may disclaim the gift, either in part or in full (14 V.S.A. §§ 1951 to 1957). 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 (§ 1955).

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 (§ 1953).

Deliver the disclaimer within nine months of the transfer (e.g., the death of the creator of the interest), either in person or by registered mail, to any personal representative or other fiduciary of the decedent, to the holder of legal title, or to the person subsequently entitled to the property. In addition, file a copy of the disclaimer in the probate division of the superior court that has jurisdiction over proceedings regarding the estate of the deceased donor (§ 1952). If real property is involved, avoid any ambiguity regarding the chain of title by recording a copy of the document in the land records of the town in which the property is located (§ 1952 (e)).

A disclaimer is irrevocable and binding for the disclaiming party as well as for his or her creditors (§ 1954), 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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Deeds.com Vermont Disclaimer of Interest Forms Have Been Updated as Recently as Thursday May 11, 2017
Vermont Disclaimer of Interest Form