Disclaimer of Power of Appointment Not Held in a Fiduciary Capacity or Other Power Not Held in a Fiduciary Capacity

1. Law
2. Tennessee Code
3. Descent and Distribution
4. Tennessee Disclaimer of Property Interests Act
5. Disclaimer of Power of Appointment Not Held in a Fiduciary Capacity or Other Power Not Held in a Fiduciary Capacity

If a holder disclaims a power of appointment not held in a fiduciary capacity or other power not held in a fiduciary capacity, the following rules apply:

1. If the holder has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable;
2. If the holder has exercised the power and the disclaimer is of a power other than a presently exercisable general power of appointment, the disclaimer takes effect immediately after the last exercise of the power; and
3. The instrument creating the power is construed as if the power expired when the disclaimer became effective.

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