2009 Iowa Code
Title 15 - Judicial Branch and Judicial Procedures
Subtitle 4 - Probate - Fiduciaries
CHAPTER 633E - UNIFORM DISCLAIMER OF PROPERTY INTEREST ACT
633E.10 - DISCLAIMER BY APPOINTEE, OBJECT, OR TAKER IN DEFAULT OF EXERCISE OF POWER OF APPOINTMENT.

        633E.10  DISCLAIMER BY APPOINTEE, OBJECT, OR TAKER IN
      DEFAULT OF EXERCISE OF POWER OF APPOINTMENT.
         1.  For purposes of this section, all of the following rules shall
      apply:
         a.  An appointee is a person to whom a holder of a power has
      effectively appointed the property subject to the power.
         b.  An object of a power is a person to whom a holder of a
      power may appoint the property subject to the power sometime in the
      future.
         c.  A taker in default of the exercise of a power of
      appointment is a person designated by the person creating the power
      in the holder to take the property subject to the power if the power
      has not been effectively exercised.
         2.  A disclaimer of an interest in property by an appointee of a
      power of appointment takes effect as of the time the instrument by
      which the holder exercises the power becomes irrevocable.
         3.  A disclaimer of an interest in property by an object or taker
      in default of an exercise of a power of appointment takes effect as
      of the time the instrument creating the power becomes irrevocable.
      

         2004 Acts, ch 1015, §17
         C2005, §633.910
         2005 Acts, ch 38, §53
         CS2005, §633E.10
         Referred to in § 633E.5