§ 37A. MEANS OF EVIDENCING DISCLAIMER OR RENUNCIATION OF
PROPERTY OR INTEREST RECEIVABLE FROM A DECEDENT . Any person, or
the guardian of an incapacitated person, the personal
representative of a deceased person, or the guardian ad litem of an
unborn or unascertained person, with prior court approval of the
court having, or which would have, jurisdiction over such guardian,
personal representative, or guardian ad litem, or any independent
executor of a deceased person, without prior court approval, who
may be entitled to receive any property as a beneficiary and who
intends to effect disclaimer irrevocably on or after September 1,
1977, of the whole or any part of such property shall evidence same
as herein provided. A disclaimer evidenced as provided herein
shall be effective as of the death of decedent and shall relate back
for all purposes to the death of the decedent and is not subject to
the claims of any creditor of the disclaimant. Unless the
decedent’s will provides otherwise, the property subject to the
disclaimer shall pass as if the person disclaiming or on whose
behalf a disclaimer is made had predeceased the decedent and a
future interest that would otherwise take effect in possession or
enjoyment after the termination of the estate or interest that is
disclaimed takes effect as if the disclaiming beneficiary had
predeceased the decedent. Failure to comply with the provisions
hereof shall render such disclaimer ineffective except as an
assignment of such property to those who would have received same
had the person attempting the disclaimer died prior to the
decedent. The term “property” as used in this section shall include
all legal and equitable interests, powers, and property, whether
present or future, whether vested or contingent, and whether
beneficial or burdensome, in whole or in part. The term
“disclaimer” as used in this section shall include “renunciation.”
In this section “beneficiary” includes a person who would have been
entitled, if the person had not made a disclaimer, to receive
property as a result of the death of another person by inheritance,
under a will, by an agreement between spouses for community
property with a right of survivorship, by a joint tenancy with a
right of survivorship, or by any other survivorship agreement,
account, or interest in which the interest of the decedent passes to
a surviving beneficiary, by an insurance, annuity, endowment,
employment, deferred compensation, or other contract or
arrangement, or under a pension, profit sharing, thrift, stock
bonus, life insurance, survivor income, incentive, or other plan or
program providing retirement, welfare, or fringe benefits with
respect to an employee or a self-employed individual. Nothing in
this section shall be construed to preclude a subsequent disclaimer
by any person who shall be entitled to property as a result of a
disclaimer. The following shall apply to such disclaimers:
(a) Written Memorandum of Disclaimer and Filing Thereof. In
the case of property receivable by a beneficiary, the disclaimer
shall be evidenced by a written memorandum, acknowledged before a
notary public or other person authorized to take acknowledgements
of conveyances of real estate. Unless the beneficiary is a
charitable organization or governmental agency of the state, a
written memorandum of disclaimer disclaiming a present interest
shall be filed not later than nine months after the death of the
decedent and a written memorandum of disclaimer disclaiming a
future interest may be filed not later than nine months after the
event determining that the taker of the property or interest is
finally ascertained and his interest is indefeasibly vested. If
the beneficiary is a charitable organization or a governmental
agency of the state, a written memorandum of disclaimer disclaiming
a present or future interest shall be filed not later than nine
months after the beneficiary receives the notice required by
Section 128A of this code. The written memorandum of disclaimer
shall be filed in the probate court in which the decedent’s will has
been probated or in which proceedings have been commenced for the
administration of the decedent’s estate or which has before it an
application for either of the same; provided, however, if the
administration of the decedent’s estate is closed, or after the
expiration of one year following the date of the issuance of letters
testamentary in an independent administration, or if there has been
no will of the decedent probated or filed for probate, or if no
administration of the decedent’s estate has been commenced, or if
no application for administration of the decedent’s estate has been
filed, the written memorandum of disclaimer shall be filed with the
county clerk of the county of the decedent’s residence, or, if the
decedent is not a resident of this state but real property or an
interest therein located in this state is disclaimed, a written
memorandum of disclaimer shall be filed with the county clerk of the
county in which such real property or interest therein is located,
and recorded by such county clerk in the deed records of that
county.
(b) Notice of Disclaimer. Unless the beneficiary is a
charitable organization or governmental agency of the state, copies
of any written memorandum of disclaimer shall be delivered in
person to, or shall be mailed by registered or certified mail to and
received by, the legal representative of the transferor of the
interest or the holder of legal title to the property to which the
disclaimer relates not later than nine months after the death of the
decedent or, if the interest is a future interest, not later than
nine months after the date the person who will receive the property
or interest is finally ascertained and the person’s interest is
indefeasibly vested. If the beneficiary is a charitable
organization or government agency of the state, the notices
required by this section shall be filed not later than nine months
after the beneficiary receives the notice required by Section 128A
of this code.
(c) Power to Provide for Disclaimer. Nothing herein shall
prevent a person from providing in a will, insurance policy,
employee benefit agreement, or other instrument for the making of
disclaimers by a beneficiary of an interest receivable under that
instrument and for the disposition of disclaimed property in a
manner different from the provisions hereof.
(d) Irrevocability of Disclaimer. Any disclaimer filed and
served under this section shall be irrevocable.
(e) Partial Disclaimer. Any person who may be entitled to
receive any property as a beneficiary may disclaim such property in
whole or in part, including but not limited to specific powers of
invasion, powers of appointment, and fee estate in favor of life
estates; and a partial disclaimer or renunciation, in accordance
with the provisions of this section, shall be effective whether the
property so renounced or disclaimed constitutes a portion of a
single, aggregate gift or constitutes part or all of a separate,
independent gift; provided, however, that a partial disclaimer
shall be effective only with respect to property expressly
described or referred to by category in such disclaimer; and
provided further, that a partial disclaimer of property which is
subject to a burdensome interest created by the decedent’s will
shall not be effective unless such property constitutes a gift
which is separate and distinct from undisclaimed gifts.
(f) Partial Disclaimer by Spouse. Without limiting
Subsection (e) of this section, a disclaimer by the decedent’s
surviving spouse of a transfer by the decedent is not a disclaimer
by the surviving spouse of all or any part of any other transfer
from the decedent to or for the benefit of the surviving spouse,
regardless of whether the property or interest that would have
passed under the disclaimed transfer passes because of the
disclaimer to or for the benefit of the surviving spouse by the
other transfer.
(g) Disclaimer After Acceptance. No disclaimer shall be
effective after the acceptance of the property by the beneficiary.
For the purpose of this section, acceptance shall occur only if the
person making such disclaimer has previously taken possession or
exercised dominion and control of such property in the capacity of
beneficiary.
(h) Interest in Trust Property. A beneficiary who accepts
an interest in a trust is not considered to have a direct or
indirect interest in trust property that relates to a licensed or
permitted business and over which the beneficiary exercises no
control. Direct or indirect beneficial ownership of not more than
five percent of any class of equity securities that is registered
under the Securities Exchange Act of 1934 shall not be deemed to be
an ownership interest in the business of the issuer of such
securities within the meaning of any statute, pursuant thereto.