When disclaimer barred or limited

(1) A disclaimer is barred by a written waiver of the right to disclaim. (2) A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective: (a) The disclaimant accepts the interest sought to be disclaimed; (b) The disclaimant voluntarily assigns, conveys, encumbers, pledges, or transfers the interest sought to be disclaimed or contracts to do so; or (c) A judicial sale of the interest sought to be disclaimed occurs. (3) A disclaimer, in whole or in part, of the future exercise of a power held in a fiduciary capacity is not barred by its previous exercise. (4) A disclaimer, in whole or in part, of the future exercise of a power not held in a fiduciary capacity is not barred by its previous exercise unless the power is exercisable in favor of the disclaimant. (5) A disclaimer is barred or limited if so provided by law other than this part 12. (6) A disclaimer of a power over property that is barred by this section is ineffective. A disclaimer of an interest in property that is barred by this section takes effect as a transfer of the interest disclaimed to the persons who would have taken the interest under this part 12 had the disclaimer not been barred. (7) Notwithstanding any other provision in this part 12, this part 12 shall not modify the construction of law or application of law with respect to: (a) A disqualification of medical assistance benefits under title 25.5, C.R.S., to a disclaimant who is or was an applicant for or recipient of such benefits; or (b) A recovery from the estate of a deceased recipient of such medical assistance benefits.