3B:9-9 Bar of right to disclaim.
3B:9-9. Bar of right to disclaim.
a. The right of an individual to disclaim property or any interest therein is barred by:
(1) an assignment, conveyance, encumbrance, pledge or transfer of the property or interest or a contract therefor; or
(2) a written waiver of the right to disclaim; or
(3) an acceptance of the property or interest or a benefit under it after actual knowledge that a property right has been conferred; or
(4) a sale of the property or interest that was seized under judicial process before the disclaimer is made; or
(5) the expiration of the permitted applicable perpetuities period; or
(6) a fraud on the individual's creditors as set forth in the "Uniform Fraudulent Transfer Act" (R.S.25:2-20 et seq.).
b. The disclaimant shall not be barred from disclaiming all or any part of the balance of the property where the disclaimant has received a portion of the property and there still remains an interest which the disclaimant is yet to receive.
c. A bar to the right to disclaim a present interest in joint property does not bar the right to disclaim a future interest in that property.
d. The right to disclaim may be barred to the extent provided by other applicable statutory law.
Amended 1988, c.74, s.2; 2004, c.132, s.72; 2005, c.160, s.11.
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