Minnesota Adopts Uniform Disclaimer of Property Interests Act
According to the summary of 2009 legislation provided by the Minnesota House of Representatives:
There are two disclaimers currently on state books that are to be combined: one that handles them during lifetime and another for those that inherit property after someone dies. The law also updates provisions relating to disclaimers.
A primary change is clarification that someone can disclaim an interest even if it is not within the nine-month limit normally required for tax purposes.
Other provisions affected include: allowing disclaimers of future interests, allowing disclaimers of jointly held property, allowing a trustee to disclaim property that might be scheduled to be distributed to a trust, allowing disclaimers of powers of appointment and other powers someone might hold over another’s trust and eliminates the filing of disclaimers in district court in most situations.
Any disclaimer involving real estate would still need to comply with real estate recording requirements.