One Click Case Law for § 53-2-115
O.C.G.A. § 53-2-114 <-- --> O.C.G.A. §53-2-116

2010 Georgia Code

TITLE 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES

CHAPTER 2 - WILLS
ARTICLE 5 - LEGACIES AND DEVISES
§ 53-2-115 - (Pre-1998 Probate Code) Renouncement of succession

O.C.G.A. 53-2-115 (2010)
53-2-115. (Pre-1998 Probate Code) Renouncement of succession


(a) Any person to whom an interest in property is transferred, or who succeeds to an interest in property by contract or by operation of law, or any fiduciary acting on behalf of such person is authorized to and may renounce in whole or in part the succession to any property or interest therein by filing a written instrument within the time and at the place provided in subsection (b) of this Code section. For purposes of this Code section, the term "interest in property" includes any powers over or rights with respect to such property. The instrument shall:

(1) Describe the property or part thereof or interest therein renounced;

(2) Be signed by the person renouncing or by a fiduciary acting on behalf of such person; and

(3) Declare the renunciation and the extent thereof.

(b) The writing specified in subsection (a) of this Code section must be filed within nine months after the date the interest in property is transferred or within 12 months of the transfer if the transferee is a ward or if the taker of the property is not then finally ascertained but in no event later than nine months after the event by which the taker or the interest is finally ascertained. The writing must be filed in the court of the county in which proceedings concerning the decedent's estate are pending or in which they would be pending if commenced if the transferor is deceased and in the county in which the real property is located if such transfer is a transfer of real property. A copy of the writing shall also be delivered to the transferor, or to the personal representative of the decedent if the transferor is deceased, by hand delivery with a written acknowledgment of receipt or by first-class mail.

(c) Unless the decedent or donee of the power has otherwise indicated by his or her will, the interest renounced and any future interest which is to take effect in possession or enjoyment at or after the termination of the interest renounced shall pass as if the person renouncing had predeceased the decedent or, if the person renouncing is one designated to take pursuant to a power of appointment exercised by a testamentary instrument, as if the person renouncing had predeceased the donee of the power. In every case the renunciation relates back for all purposes to the date of death of the decedent or the donee, as the case may be.

(d) The following shall bar the right to renounce as to the property:

(1) Any assignment, conveyance, encumbrance, pledge, or transfer of property therein or any contract therefor;

(2) Any written waiver of the right to renounce or any acceptance of property by a transferee; or

(3) Any sale or other disposition of property pursuant to judicial process, made before the expiration of the period in which he or she is permitted to renounce.

(e) The right to renounce granted by this Code section exists irrespective of any limitation in the nature of a spendthrift provision or similar restriction on the interest of the person renouncing.

(f) This Code section does not abridge the right of any person to assign, convey, release, or renounce any property arising under any other Code section or any other statute.

(g) A renunciation that fails to meet the requirements of this Code section shall operate as a transfer of the interest in property to those persons who would have received such interest in property if the renunciation had met the requirements of this Code section.

(h) Nothing in this Code section shall be deemed to alter the duties or responsibilities of any fiduciary to act in the best interests of the person or persons the fiduciary represents. However, nothing contained in this Code section shall be deemed to limit the authority granted by this Code section to the fiduciary to renounce an interest in property.

(i) Any expression of intent or desire in a renunciation by the person renouncing as to the disposition of the renounced interest in property shall, unless specifically declared to be a condition of such renunciation, be considered merely precatory and shall have no legal effect.

(j) Any interest in property which existed on March 27, 1972, but which had not then become indefeasibly fixed both in quality and quantity, or the taker of which had not then become finally ascertained, may be renounced as provided in this Code section. An interest which arose prior to March 27, 1972, in any person other than the person renouncing is not destroyed or diminished by any action of the person renouncing taken under this Code section.