2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633E - UNIFORM DISCLAIMER OF PROPERTY INTEREST ACT
633E.5 - POWER TO DISCLAIM -- GENERAL REQUIREMENTS -- WHEN IRREVOCABLE.

        633E.5  POWER TO DISCLAIM -- GENERAL REQUIREMENTS --
      WHEN IRREVOCABLE.
         1.  A person may disclaim, in whole or in part, any interest in or
      power over property, including a power of appointment, whenever and
      however acquired.  A person may disclaim the interest or power even
      if its creator imposed a spendthrift provision or similar restriction
      on transfer or a restriction or limitation on the right to disclaim.

         2.  Except to the extent 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, or a
      disclaimer by a fiduciary would be a breach of trust, a fiduciary may
      disclaim, in whole or in part, any interest in or power over
      property, including a power of appointment, whether acting in a
      personal or representative capacity.  A fiduciary may disclaim the
      interest or power even if the creator 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 be in a writing or other
      record, declare the disclaimer, describe the interest or power
      disclaimed, be signed by the person making the disclaimer, and be
      delivered or filed in the manner provided in section 633E.12.  In
      this subsection, "record" means information that is inscribed on
      a tangible medium or that is stored in an electronic or other medium
      and is retrievable in perceivable form.
         4.  A partial disclaimer may be expressed as a fraction,
      percentage, monetary amount, term of years, limitation of a power, or
      any other interest or estate in the property.
         5.  A disclaimer becomes irrevocable when it is delivered or filed
      pursuant to section 633E.12 or when it becomes effective as provided
      in sections 633E.6 through 633E.11, whichever occurs later.
         6.  A disclaimer made under this chapter is not a transfer,
      assignment, or release.  

         2004 Acts, ch 1015, §12
         C2005, §633.905
         2005 Acts, ch 3, §106; 2005 Acts, ch 38, §52, 53, 55
         CS2005, §633E.5
         Referred to in § 249A.3, 633.647