Disclaimer and Renunciation of Interest (Qualified Disclaimer) — Virginia

TIMING — IRC § 2518 (9-MONTH FEDERAL DEADLINE): Virginia's Uniform Disclaimer of Property Interests Act (Va. Code ch. 26) imposes no internal nine-month deadline; a disclaimer is irrevocable when delivered/filed or when it takes effect. But to be a federal "qualified disclaimer," the signed writing must be received by the transferor, legal representative, or legal-title holder within nine (9) months after the later of the transfer creating the interest or the disclaimant's 21st birthday, with no acceptance of the interest or its benefits (26 U.S.C. § 2518; Va. Code § 64.2-2612). Verify the federal deadline with counsel before signing.

DISCLAIMER AND RENUNCIATION OF INTEREST (QUALIFIED DISCLAIMER)

COMMONWEALTH OF VIRGINIA

TABLE OF CONTENTS

1. Disclaimant Information
2. Identification of the Transfer and Interest Disclaimed
3. Statutory Authority
4. The Disclaimer
5. Qualified-Disclaimer Representations
6. Effect and Passing of the Disclaimed Interest
7. Irrevocability and Binding Effect
8. Delivery, Filing, and Recording
9. Signature, Acknowledgment, and Notarization
10. Verification / Declaration
11. Certificate of Delivery / Service
12. Attachments Checklist

1. DISCLAIMANT INFORMATION

The undersigned (the "Disclaimant") is a person to whom an interest in or power over property has passed within the meaning of the Uniform Disclaimer of Property Interests Act (Va. Code ch. 26), namely a(n): ☐ heir ☐ devisee ☐ legatee ☐ beneficiary of a trust ☐ beneficiary under a beneficiary designation (annuity, insurance, POD account, security in beneficiary form, or employment-related benefit plan) ☐ surviving holder of jointly held property ☐ appointee, object, or taker in default under a power of appointment ☐ fiduciary ☐ other: [____________________].

2. IDENTIFICATION OF THE TRANSFER AND INTEREST DISCLAIMED

Source of the interest (check all that apply):
☐ Last Will and Testament of the Decedent
☐ Intestate succession (Va. Code § 64.2-200 et seq.)
☐ Revocable, inter vivos, or testamentary trust
☐ Beneficiary designation (life insurance, retirement plan, annuity, POD/TOD account, or security registered in beneficiary form)
☐ Jointly held property (joint tenancy or tenancy by the entirety with right of survivorship)
☐ Power of appointment
☐ Other: [________________________________]

Extent of the disclaimer (Va. Code § 64.2-2603(E)):
☐ Full disclaimer — the Disclaimant disclaims the entire interest or power described above.
☐ Partial disclaimer — the Disclaimant disclaims only the following portion, expressed as a fraction, percentage, monetary amount, term of years, limitation of power, or other interest or estate: [____________________] (e.g., an undivided ____% interest, or the sum of $[____________]).

Legal description of any real property disclaimed (or see attached Exhibit A): [________________________________]

3. STATUTORY AUTHORITY

This Disclaimer is made under the Uniform Disclaimer of Property Interests Act, Va. Code § 64.2-2600 et seq. (ch. 26), and is intended to constitute a qualified disclaimer under 26 U.S.C. § 2518 and Treas. Reg. § 25.2518-2.

• Va. Code § 64.2-2603(A) authorizes a person to disclaim, in whole or in part, any interest in or power over property, including a power of appointment, even if the creator imposed a spendthrift provision or similar restriction or a restriction on the right to disclaim.
• Va. Code § 64.2-2603(D) requires that, to be effective, a disclaimer be in writing or other record, declare the disclaimer, describe the interest or power disclaimed, be signed by the person making it, and be delivered or filed in the manner provided in § 64.2-2610.
• Va. Code § 64.2-2603(F) provides that a disclaimer becomes irrevocable when delivered or filed under § 64.2-2610 or when it becomes effective under §§ 64.2-2604 through 64.2-2609, whichever occurs later; and § 64.2-2603(G) provides that a disclaimer is not a transfer, assignment, or release.
• Va. Code § 64.2-2612 provides that if, as a result of a disclaimer, the disclaimed interest is treated under Title 26 of the U.S. Code as never having been transferred to the disclaimant, the disclaimer is effective as a disclaimer under this chapter.

4. THE DISCLAIMER

The Disclaimant, intending to be legally bound, hereby IRREVOCABLY DISCLAIMS and RENOUNCES all (or, where a partial disclaimer is elected in Section 2, the stated fraction, percentage, monetary amount, term of years, limitation of power, or other portion of all) right, title, claim, interest, and power of every kind — whether vested or contingent, present or future, legal or equitable — in and to the property, interest, and power described in Section 2 above.

This Disclaimer is made freely, voluntarily, and with full knowledge of its legal and tax consequences. This Disclaimer is not a transfer, assignment, or release (Va. Code § 64.2-2603(G)).

5. QUALIFIED-DISCLAIMER REPRESENTATIONS

The Disclaimant represents and certifies that:

☐ This Disclaimer is in writing or other record, declares the disclaimer, describes the interest or power disclaimed, and is signed by the Disclaimant, as required by Va. Code § 64.2-2603(D) and Treas. Reg. § 25.2518-2(b).

☐ State delivery, filing, or recording requirements stated above have been checked and completed: [METHOD / DATE / PROOF].
☐ For 26 U.S.C. § 2518(b)(2), the written refusal was received by the transferor, the transferor's legal representative, or the holder of legal title within nine months after the later of the transfer creating the interest or the disclaimant's 21st birthday: [RECIPIENT / DATE / RECEIPT PROOF].

☐ The Disclaimant has NOT accepted the disclaimed interest or any of its benefits, and has not assigned, conveyed, encumbered, pledged, or transferred the interest or contracted to do so (Treas. Reg. § 25.2518-2(d)).

☐ The disclaimed interest passes without any direction on the part of the Disclaimant (26 U.S.C. § 2518(b)(4); Treas. Reg. § 25.2518-2(e)).

☐ As a result of this Disclaimer, the interest passes as if the Disclaimant had died immediately before the time of distribution (Va. Code § 64.2-2604).

6. EFFECT AND PASSING OF THE DISCLAIMED INTEREST

Under Va. Code § 64.2-2604, the disclaimed interest passes according to any provision in the instrument creating the interest that provides for the disposition of the interest if it were disclaimed; otherwise, the disclaimed interest passes as if the Disclaimant had died immediately before the time of distribution (or, for an interest passing by intestacy, as if the Disclaimant had died immediately before the Decedent). A disclaimer takes effect as of the time the instrument creating the interest becomes irrevocable (for a disclaimer because of death, as of the time of death) and relates back for all purposes to that time.

The Disclaimant does not direct to whom the disclaimed interest passes; it passes solely by operation of the governing instrument and Virginia law.

7. IRREVOCABILITY AND BINDING EFFECT

This Disclaimer becomes irrevocable when it is delivered or filed under Va. Code § 64.2-2610 or when it becomes effective under Va. Code §§ 64.2-2604 through 64.2-2609, whichever occurs later (Va. Code § 64.2-2603(F)). Once irrevocable, it may not be modified, withdrawn, or rescinded, and it is binding upon the Disclaimant and all persons claiming through or under the Disclaimant.

8. DELIVERY, FILING, AND RECORDING

Pursuant to Va. Code § 64.2-2610, delivery may be effected by personal delivery, first-class mail, or any other method likely to result in its receipt. The Disclaimant shall (check all that apply):

☐ For an interest created under intestate succession or by will (other than an interest in a testamentary trust): deliver this Disclaimer to the personal representative of the Decedent's estate; or, if no personal representative is then serving, file it with a court having jurisdiction to appoint the personal representative (Va. Code § 64.2-2610(C)).

☐ For an interest in a testamentary or inter vivos trust: deliver this Disclaimer to the trustee then serving (or as otherwise provided in § 64.2-2610(D)–(E)).

☐ For an interest created by a beneficiary designation: deliver this Disclaimer to the person obligated to distribute the interest (or to the person making the designation if not yet irrevocable) (Va. Code § 64.2-2610(F)–(G)).

☐ For jointly held property: deliver this Disclaimer to the person to whom the disclaimed interest passes (Va. Code § 64.2-2610(H)).

☐ Record a copy of this Disclaimer in the office of the Clerk of the Circuit Court for [____________], Virginia, where the real property is located, if an instrument transferring title to real property is disclaimed (Va. Code § 64.2-2613). Failure to record does not affect validity as between the Disclaimant and persons to whom the interest passes.

9. SIGNATURE, ACKNOWLEDGMENT, AND NOTARIZATION

Executed this [____] day of [____________], 20[____].

Disclaimant Signature: ______________________________________

Printed Name: [________________________________]

ACKNOWLEDGMENT

COMMONWEALTH OF VIRGINIA )
CITY/COUNTY OF [____________] )

The foregoing instrument was acknowledged before me this [____] day of [____________], 20[____], by [DISCLAIMANT FULL LEGAL NAME].

______________________________________
Notary Public
Registration No.: [____________]
My commission expires: [__/__/____]

[NOTARY SEAL]

10. VERIFICATION / DECLARATION

I, [DISCLAIMANT FULL LEGAL NAME], declare under penalty of perjury under the laws of the Commonwealth of Virginia that the foregoing is true and correct, that I have not accepted the disclaimed interest or any benefit thereof, and that I make this Disclaimer of my own free will.

Signature: ______________________________________
Date: [__/__/____]

11. CERTIFICATE OF DELIVERY / SERVICE

I certify that on the date(s) shown below a true and correct copy of this Disclaimer was delivered (by personal delivery, first-class mail, or another method likely to result in its receipt, including registered or certified mail, return receipt requested) to the following:

Signature: ______________________________________
Printed Name: [________________________________]

12. ATTACHMENTS CHECKLIST

☐ Copy of the Last Will and Testament, trust instrument, or beneficiary designation creating the disclaimed interest
☐ Exhibit A — legal description of any real property disclaimed
☐ Certified copy of the Decedent's Death Certificate
☐ Proof of delivery / mailing (registered or certified mail receipts)
☐ Copy of the recorded Disclaimer (Clerk of the Circuit Court), if real property is involved
☐ File-stamped copy from the Circuit Court / Commissioner of Accounts (estate proceeding)

SOURCES AND REFERENCES

• Uniform Disclaimer of Property Interests Act, Va. Code ch. 26 (§§ 64.2-2600 to 64.2-2614) — https://law.lis.virginia.gov/vacodefull/title64.2/chapter26/
• Va. Code § 64.2-2603 (Power to disclaim) — https://law.justia.com/codes/virginia/title-64-2/chapter-26/section-64-2-2603/
• Va. Code § 64.2-2610 (Delivery or filing) — https://law.justia.com/codes/virginia/title-64-2/chapter-26/section-64-2-2610/
• Va. Code § 64.2-2612 (Tax qualified disclaimer) — https://law.justia.com/codes/virginia/title-64-2/chapter-26/section-64-2-2612/
• Va. Code § 64.2-2613 (Recording of disclaimer) — https://law.justia.com/codes/virginia/title-64-2/chapter-26/section-64-2-2613/
• 26 U.S.C. § 2518 (Disclaimers) — https://www.law.cornell.edu/uscode/text/26/2518
• Treas. Reg. § 25.2518-2 — https://www.law.cornell.edu/cfr/text/26/25.2518-2