Iowa Code § 633E.10
Disclaimer by appointee, object, or taker in default of exercise of power of appointment
Iowa · Iowa Code Chapter 633E — Uniform Disclaimer of Property Interest Act · Status: effective
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- Citation
- Iowa Code § 633E.10, Disclaimer by appointee, object, or taker in default of exercise of power of appointment, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2279040
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Full text
1. For purposes of this section, all of the following rules shall apply:
a. An appointee is a person to whom a holder of a power has effectively appointed the property subject to the power.
b. An object of a power is a person to whom a holder of a power may appoint the property subject to the power sometime in the future.
c. A taker in default of the exercise of a power of appointment is a person designated by the person creating the power in the holder to take the property subject to the power if the power has not been effectively exercised.
2. A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable.
3. A disclaimer of an interest in property by an object or taker in default of an exercise of a power of appointment takes effect as of the time the instrument creating the power becomes irrevocable.