§ 31B-4.1. Tax qualified renunciation. - North Carolina Statutes

§ 31B‑4.1.  Taxqualified renunciation.

If, as a result of arenunciation, the renounced property is treated pursuant to the provisions ofTitle 26 of the United States Code, as now or hereafter amended, or anysuccessor statute thereto, and the regulations promulgated thereunder, as neverhaving been transferred to the person whose property or interest is beingrenounced, then the renunciation is an effective renunciation, notwithstandingany other provision of this Chapter. This section does not preclude an actionfor breach of fiduciary duty.  (2009‑48, s. 8.)