A disclaimer deed is a deed in which a spouse disclaims any interest in the real property acquired by the other spouse. A mortgage company often asks a borrower to sign a disclaimer deed so that his spouse not having her name on the loan, cannot claim any interest in the property.
North Carolina Disclaimer Deed
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Multi-State
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US-01994BG
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FAQ
The written disclaimer must be delivered to the transferor's legal representative, such as the executor of an estate, and in North Carolina to the probate court, within nine months after the transferor's death, with the exception of a disclaimer by a minor disclaimant, which may be made within nine months after the ...
The Internal Revenue Service (IRS) defines a qualified disclaimer as an irrevocable and unqualified refusal by a person to accept an interest in property.
A spouse may also choose to use a disclaimer trust because they may keep assets away from creditors, later spouses should the survivor get remarried, or ensure children receive the assets from the trust after the surviving spouse passes.
Yes. You can prepare your own deed, but it is highly recommended that you retain the services of an attorney to ensure the document is prepared correctly. By law, the Register of Deeds office cannot provide you with any legal advice and does not provide deed forms.
A deed must state the name and address for the current owner making the transfer (the grantor) and the new owner receiving the property (the grantee). A deed with more than one grantor or grantee must include the names and addresses of all parties.
Disclaiming inherited assets is often done to avoid taxes but also so that other individuals can receive the assets.
In general, a disclaimer will typically serve to relieve a party to a contract or within a legally valid relationship from liability in situations that involve uncertainty or risk. For instance, a warning label or a sign is one standard form of a disclaimer that you may have seen when purchasing a product.
Formal. a formal statement saying that you are not legally responsible for something, such as the information given in a book or on the internet, or that you have no direct involvement in it.