Section 46-10-13 - When disclaimer barred or limited. - New Mexico Statutes

46-10-13. When disclaimer barred or limited.

A.     A disclaimer is barred by a written waiver of the right to disclaim.   

B.     A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective:   

(1)     the disclaimant accepts the interest sought to be disclaimed;   

(2)     the disclaimant voluntarily assigns, conveys, encumbers, pledges or transfers the interest sought to be disclaimed or contracts to do so; or   

(3)     a judicial sale of the interest sought to be disclaimed occurs.   

C.     A disclaimer, in whole or part, of the future exercise of a power held in a fiduciary capacity is not barred by its previous exercise.   

D.     A disclaimer, in whole or part, of the future exercise of a power not held in a fiduciary capacity is not barred by its previous exercise unless the power is exercisable in favor of the disclaimant.   

E.     A disclaimer is barred or limited if so provided by law other than the Uniform Disclaimer of Property Interests Act [46-10-1 NMSA 1978].   

F.     A disclaimer of a power over property that is barred by this section is ineffective. A disclaimer of an interest in property that is barred by this section takes effect as a transfer of the interest disclaimed to the persons who would have taken the interest under the Uniform Disclaimer of Property Interests Act had the disclaimer not been barred.