Georgia Disclaimer of Interest in Land (In Easement)
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How to fill out Disclaimer Of Interest In Land (In Easement)?
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FAQ
Under Georgia utility easement law, the government has the right to easements of private property in order to , expand, and maintain utilities such as power lines.
For example, in her will a decedent leaves $500,000 to her nephew if he survives her, but if he does not survive her, this amount passes to her nephew's children who survive the decedent. If the nephew disclaims the property, it passes to his children who survive the decedent.
No discovery shall be had unless ordered by the court for good cause. In addition, the superior court shall be authorized to issue a summary ruling on the conveyance of any intended common areas or other property in the common interest community to the association or other appropriate entity.
The disclaimer must be in writing and submitted to the court overseeing the disposition of the estate within a legally specified time period, which is usually nine months after the death of the person from whom the disclaiming party stands to inherit, or twelve months after the creation of a trust by a living person.
A disclaimer of interest is, essentially, a written statement to the probate court where someone who stands to inherit property or assets states that they do not wish to exercise that inheritance.
Unlike assignments, the person disclaiming their interest cannot say who receives the disclaimed interest. A disclaimer is not a gift by the person disclaiming. Lastly, one cannot have accepted any benefits from the property being disclaimed, such as the income from an income producing asset.
The Internal Revenue Service (IRS) defines a qualified disclaimer as an irrevocable and unqualified refusal by a person to accept an interest in property.
Disclaim, in a legal sense, refers to the renunciation of an interest in inherited assets, such as property, by way of a legal instrument. A person disclaiming an interest, right, or obligation is known as a disclaimant.
