120.270 - Disclaimer by appointee, object or taker in default of exercise of power of appointment.
120.270 Disclaimer by appointee, object or taker in default of exercise of power of appointment.
1. 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.
2. 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.
(Added to NRS by 2007, 281)