KRS 394.035: Uniform disclaimer of transfers under nontestamentary instruments.

(1) A person, or the representative of an incapacitated person or protected person, who

is a grantee, donee, surviving joint tenant, person succeeding to a disclaimed

interest, beneficiary under a nontestamentary instrument or contract, or appointee

under a po wer of appointment exercised by a nontestamentary instrument, may

disclaim in whole or in part the right of transfer to him of any property, or interest

therein by delivering or filing a written disclaimer under this section. A surviving

joint tenant may disclaim as a separate interest any property or interest therein

devolving to him by right of survivorship. A surviving joint tenant may disclaim

the entire interest in any property, or interest therein, that is the subject of a joint

tenancy devolving to him, if the joint tenancy was created by act of a deceased joint

tenant, if the survivor did not join in creating the joint tenancy and he has not

accepted a benefit thereunder. The right to disclaim shall survive the death of the

person having it and ma y be exercised by the personal representative of such

person's estate. The disclaimer shall describe the property or interest therein

disclaimed, declare the disclaimer and extent thereof, and be signed by the

disclaimant.

(2) (a) An instrument disclaiming a present interest shall be delivered or filed no later

than nine (9) months after the effective date of the nontestamentary instrument

or contract; and a future interest shall be delivered or filed not later than nine

(9) months after the event determining that the taker of the property or interest

is finally ascertained and his interest is indefeasibly vested. If the person

entitled to disclaim does not have actual knowledge of the existence of the

interest the instrument shall be delivered or filed no t later than nine (9)

months after he has actual knowledge of the existence of the interest. The

effective date of a revocable instrument or contract is the date on which the

maker no longer has power to revoke it or to transfer to himself or another the

entire legal and equitable ownership of the interest.

(b) The disclaimer or a copy thereof shall be delivered in person or mailed by

registered or certified mail to the transferor or his representative or to the

trustee or other person having legal title t o, or possession of, the property or

interest disclaimed. If real property or an interest therein is disclaimed, a copy

of the instrument may be filed for record in the office of the county clerk of

the county in which the real estate is situated.

(3) Unless the nontestamentary instrument or contract provides for another disposition,

the property or interest therein disclaimed shall devolve as if the disclaimant had

died before the effective date of the instrument or contract. A disclaimer relates

back for all purposes to that date. A future interest that takes effect in possession or

enjoyment at or after the termination of the disclaimed interest takes effect as if the

disclaimant had died before the effective date of the instrument or contract that

transferred the disclaimed interest.

(4) (a) The right to disclaim property or an interest therein is barred by an

assignment, conveyance, encumbrance, pledge, or transfer of the property or

interest, or a contract therefor, a written waiver of the right to d isclaim, an

acceptance of the property or interest or benefit thereunder, or a sale of the

property or interest under judicial sale made before the disclaimer is effected.

(b) The right to disclaim exists notwithstanding any limitation on the interest of

the disclaimant in the nature of a spendthrift provision or similar restriction.

(c) The instrument of disclaimer or the written waiver of the right to disclaim is

binding upon the disclaimant or person waiving and all persons claiming

through or under him.

(5) This section does not abridge the right of a person to waive, release, disclaim, or

renounce property or an interest therein under any other statute.

(6) An interest in property existing on July 15, 1980, as to which, if a present interest,

the time f or filing a disclaimer under this section has not expired, or if a future

interest, the interest has not become indefeasibly vested or the taker finally

ascertained, may be disclaimed within nine (9) months after July 15, 1980.

(7) This section shall be applied and construed to effectuate its general purpose to make

uniform the law with respect to the subject of this section among states enacting it.

(8) This section may be cited as the uniform disclaimer of transfers under

nontestamentary instruments section.