This pamphlet provides an overview of disclaimers by those who inherit assets they choose not to accept. Topics included cover why a disclaimer may be made and the general rules for making a disclaimer. A link to state-specific information is provided.
West Virginia USLegal Pamphlet on Disclaiming an Inheritance
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This means that all heirs do not have to agree on what to do with the property in order for it to be sold. If even one co-owner wants to sell the property, a partition action will force the sale of the inherited property. An experienced partition attorney can ensure the best outcome for co-owners who disagree.
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, ...
If such will directs the sale of testator's real estate but names no executor, or names an executor and the executor dies, resigns or becomes incapable of acting, and an administrator with the will annexed is appointed, the administrator with the will annexed may sell such real estate as aforesaid.
In West Virginia, if you are married and die without a valid will, what your spouse inherits depends on whether or not you have living descendants. Descendants include children, grandchildren, and great-grandchildren. If you have no living descendants, your spouse will inherit all of your intestate property.
When you disclaim an inheritance, you will not receive the inheritance and it will instead pass onto the next Beneficiary. It is important to note that when you disclaim an inheritance, you do not get to choose who the Beneficiary will be in your place.
(a) A person may disclaim, in whole or part, any interest in or power over property, including a power of appointment. A person may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim.
If all inheritors do not agree then the property cannot be sold. Chill! If majority of the inheritors are willing to sell the property they need to go through a probate court. The inheritors can file a 'partition action' lawsuit in the probate court.
(a) The provisions of this chapter notwithstanding, every fiduciary for the estate of a resident decedent shall, within five years of appointment as fiduciary make a full and final settlement, report and accounting for the decedent's estate in the manner provided for in this code for accountings by fiduciaries, and ...
