                                 CODE OF VIRGINIA

DISCLAIMER OF RIGHTS OF SURVIVORSHIP IN JOINTLY HELD PROPERTY (§ 64.2-2605)

A. Upon the death of a holder of jointly held property, a surviving holder may
disclaim, in whole or in part, the greater of (i) a fractional share of the
property determined by dividing the number one by the number of joint holders
alive immediately before the death of the holder to whose death the disclaimer
relates or (ii) all of the property except that part of the value of the entire
interest attributable to the contribution furnished by the disclaimant.

B. A disclaimer under subsection A takes effect as of the death of the holder of
jointly held property to whose death the disclaimer relates.

C. An interest in jointly held property disclaimed by a surviving holder of the
property passes as if the disclaimant predeceased the holder to whose death the
disclaimer relates.

HISTORY: 2003, c. 253, § 64.1-196.6; 2012, c. 614.