• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Virginia will- power to disclaim

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

jeffdpia

Junior Member
What is the name of your state (only U.S. law)? Virginia
thee are 14 beneficiaries that have to agree to a particular sale. If there is no agreeance the bank will transfer title "in kind" to all 14. It was stated that if one wanted to disclaim part of the will, it had to have been made within 90 days. I can't find any legal reference to the 90 day rule in Va. Even though all the other laws in Va. are online, probate is well hidden. If the sale falls through, before deed transfer to all 14, can I file a partition action with the court? I don't want to be fiscally responsible for taxes/liabilities of property while 14 figure it out...
Quit Claim Deed?
 


anteater

Senior Member
It was stated that if one wanted to disclaim part of the will, it had to have been made within 90 days.
Stated by whom?

From what I can determine, VA removed any time limit for a disclaimer from its code in 2003.

Probate code does not seem that hidden:
http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+TOC6401000

Check Chapter 8.1.
 

jeffdpia

Junior Member
laywer advisor letter stated time limit

" It is too late for a qualified disclaimer. You had 9 months from the date of death." Is the time limit in Va. code? You state that it was removed in 2003. Could this be the Bank(trust holder) putting time limitations on decisions? If you have an interest in something (money, property), and that something has not yet been transferred to you (legal doc, deed, whatever) can you not "disclaim interest" up until that transfer time.
Question: Can some entity(aka bank) put a time constraint on the decision to disclaim, even though Va. law has no such time limitations?
 

anteater

Senior Member
As I said, I see no reference to a time limitation in the Virginia code and I see references to Virginia adopting the Uniform Disclaimer of Property Interest Acts in 2003.

The "9 months" may refer to the previous VA statute or it may refer to the US Tax Code (Section 2518) which does impose a 9 month time limit for disclaiming an interest.

If you want to pursue a disclaimer, I suggest that you confer with a VA attorney.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top