64.1-196.9 - Disclaimer by appointee, object, or taker in default of exercise of power of appointment.
§ 64.1-196.9. Disclaimer by appointee, object, or taker in default ofexercise of power of appointment.
A. A disclaimer of an interest in property by an appointee of a power ofappointment takes effect as of the time the instrument by which the holderexercises the power becomes irrevocable.
B. A disclaimer of an interest in property by an object or taker in defaultof an exercise of a power of appointment takes effect as of the time theinstrument creating the power becomes irrevocable.
(2003, c. 253.)