2005 North Carolina Code - General Statutes § 31B-4. Waiver and bar.

§ 31B‑4.  Waiver and bar.

(a)       The right to renounce property or an interest therein is barred by:

(1)       An assignment, conveyance, encumbrance, pledge, or transfer of the property or interest, or a contract therefor by the person authorized to renounce,

(2)       A written waiver of the right to renounce, or

(3)       Repealed by Session Laws 1998‑148, s. 4.

(4)       A sale of the property or interest under judicial sale made before the renunciation is effected.

(b)       The renunciation or the written waiver of the right to renounce is binding upon the renouncer or person waiving and all persons claiming through or under him.

(c)       A fiduciary's application for appointment or assumption of duties as fiduciary does not waive or bar the fiduciary's right to renounce a right, power, privilege, or immunity.

(d)       No person shall be liable for distributing or disposing of property in reliance upon the terms of a renunciation that is invalid for the reason that the right of renunciation has been waived or barred, if the distribution or disposition is otherwise proper, and the person has no actual knowledge of the facts that constitute a waiver or bar to the right of renunciation.

(e)       The right to renounce property or an interest in property pursuant to this Chapter is not barred by an acceptance of the property, interest, or benefit thereunder; provided, however, an acceptance of the property, interest, or benefit thereunder may preclude such renunciation from being a qualified renunciation for federal and State inheritance, estate, and gift tax purposes. (1975, c. 371, s. 1; 1989, c. 684, s. 6; 1998‑148, ss. 4, 5; 2000‑140, s. 8.)