This form is a Renunciation and Disclaimer of a Real Property Interest where the beneficiary gained an interest in the real property interest upon the death of the decedent, but, pursuant to the Pennsylvania Statutes, Title 20, Chapter 62, has chosen to disclaim his/her interest in the real property. Therefore, the disclaimer must be filed within nine months after the death of the decedent in order to secure the validity of the disclaimer. The form also contains a state specific acknowledgment and a certificate to verify the delivery of the document.
Pennsylvania Renunciation And Disclaimer of Real Property Interest
State:
Pennsylvania
Control #:
PA-05-03
Format:
Word;
Rich Text
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FAQ
Disclaimer of interest, in the law of inheritance, wills and trusts, is a term that describes an attempt by a person to renounce their legal right to benefit from an inheritance (either under a will or through intestacy) or through a trust. A disclaimer of interest is irrevocable.
What is a Deed of Disclaimer? A Deed of Disclaimer is a document that you can execute if you wish to Disclaim an inheritance due via the Rules of Intestacy and you are not applying for probate. A typical example of this is if a spouse of a deceased would prefer the estate passes to the children.
Property owned in joint tenancy automatically passes, without probate, to the surviving owner(s) when one owner dies. Setting up a joint tenancy is easy, and it doesn't cost a penny.
The disclaimer must be in writing: A signed letter by the person doing the disclaiming, identifying the decedent, describing the asset to be disclaimed, and the extent and amount, percentage or dollar amount, to be disclaimed, must be delivered to the person in control of the estate or asset, such as an executor,
In law, a disclaimer is a statement denying responsibility intended to prevent civil liability arising for particular acts or omissions. Disclaimers are frequently made to escape the effects of the torts of negligence and of occupiers' liability towards visitors.
Jointly owned property is treated as consisting of a both present and a future interest in the jointly owned property. Thus, a surviving spouse may disclaim the future interest in jointly owned property on the death of their spouse, including assets that were held by the spouses as tenants by the entirety.
It must be in writing. It must be made within 9 months of the date of death of the decedent. The disclaimant cannot receive any benefits from the assets.
Disclaim, in a legal sense, refers to the renunciation of an interest in, or an acceptance of, inherited assets, such as property, by way of a legal instrument. A person disclaiming an interest, right, or obligation is known as a disclaimant.
Any disclaimer of an interest in a trust by a trust beneficiary must be made to the trustee of that trust. For a disclaimer to be valid, it must be supported by some evidence that the beneficiary is disclaiming their interest. Silence or otherwise passive behaviour will not suffice.