Effectiveness of Disclaimer; Knowledge of Disclaimant;

Presumptions of Reasonable Time. A disclaimer to be effective shall be filed within a reasonable time after the person able to disclaim acquires knowledge of the interest.

(a)Except as otherwise provided in subsection

(c)of this Section, a disclaimer shall be conclusively presumed to have been filed within a reasonable time if filed as follows:

(1)In case of interests created by will, within nine

(9)months after the death of the person creating the interest, or within nine

(9)months after the interest becomes indefeasibly vested, whichever occurs later. Interests resulting from the exercise or nonexercise of a testamentary power of appointment shall be deemed created by the donee of the power for purposes of this Article.

(2)In the case of interests arising from intestate succession, within nine

(9)months after the death of the person dying intestate. COL10312014 CH. 7 TESTAMENTARY ADDITIONS

(3)In the case of interests created by inter vivos trusts, within nine

(9)months after the interest becomes indefeasibly vested. Interests resulting from the exercise or nonexercise of a nontestamentary power of appointment shall be deemed created by the donee of the power for purposes of this Article.

(4)In other cases within nine

(9)months after the first knowledge of the interest is obtained by the person able to disclaim, or within nine

(9)months after the interest becomes indefeasibly vested, whichever occurs later.

(b)If the disclaimer is not filed within the time set forth in subsection

(a)of this Section, the disclaimant shall have the burden to establish the disclaimer was filed within a reasonable time after he acquired knowledge of the interest.

(c)A disclaimer shall be conclusively presumed not to have been filed within a reasonable time after the person able to disclaim acquired knowledge of the interest if:

(1)an interest in the property which is in whole or in part sought to be disclaimed has been acquired by a purchaser or encumbrancer for value subsequent to or concurrently with the creation of the interest sought to be disclaimed and prior to such disclaimer, and

(2)one year has elapsed from the death of the person dying intestate or creating by will the interest sought to be disclaimed, or from the date of the transfer by inter vivos gift, whether outright or in trust.