Ind. Code ch. 32-17.5-3

in effect

Ind. Code § 32-17.5-3-1 Disclaiming power or interest in property

Sec. 1. 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 the creator of the interest or power imposed: (1) a spendthrift provision or similar restriction on transfer; or (2) a restriction or limitation on the right to disclaim. As added by P.L.5-2003, SEC.1.

Ind. Code § 32-17.5-3-2 Fiduciary's right to disclaim

Sec. 2. Except to the extent a fiduciary's right to disclaim is expressly restricted or limited by another statute or by the instrument creating the fiduciary relationship, a fiduciary may disclaim, in whole or part, any interest in or power over property, including a power of appointment, whether acting in a personal or representative capacity. A fiduciary may disclaim the interest or power even if: (1) the creator of the power or interest imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim; or (2) an instrument other than the instrument that created the fiduciary relationship imposed a restriction or limitation on the right to disclaim. As added by P.L.5-2003, SEC.1.

Ind. Code § 32-17.5-3-3 Disclaimer requirements

Sec. 3. (a) As used in this section, "record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. (b) A disclaimer must: (1) be in a writing or other record; (2) state that it is a disclaimer; (3) describe the interest or power disclaimed; (4) be signed by the person making the disclaimer; and (5) be delivered or filed in the manner provided in IC 32-17.5-7. As added by P.L.5-2003, SEC.1.

Ind. Code § 32-17.5-3-4 Partial disclaimer

Sec. 4. A partial disclaimer may be expressed as: (1) a fraction; (2) a percentage; (3) a monetary amount; (4) a term of years; (5) a limitation of a power; or (6) any other interest or estate in the property. As added by P.L.5-2003, SEC.1.

Ind. Code § 32-17.5-3-5 When irrevocable

Sec. 5. A disclaimer becomes irrevocable upon the occurrence of the later of the following to occur: (1) The disclaimer is delivered or filed as set forth in IC 32-17.5-7. (2) The disclaimer becomes effective as set forth in IC 32-17.5-4 through IC 32-17.5-6. As added by P.L.5-2003, SEC.1.

Ind. Code § 32-17.5-3-6 Disclaimer not a transaction, assignment, or release

Sec. 6. A disclaimer made under this article is not a transfer, an assignment, or a release. As added by P.L.5-2003, SEC.1.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/32Fetched: 10/17/2026