633E.10  Disclaimer by appointee, object, or taker in default of exercise of power of appointment.
  1.  For purposes of this section, all of the following rules shall apply:
  a.  An appointee is a person to whom a holder of a power has effectively appointed the property subject to the power.
  b.  An object of a power is a person to whom a holder of a power may appoint the property subject to the power sometime in the future.
  c.  A taker in default of the exercise of a power of appointment is a person designated by the person creating the power in the holder to take the property subject to the power if the power has not been effectively exercised.
  2.  A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable.
  3.  A disclaimer of an interest in property by an object or taker in default of an exercise of a power of appointment takes effect as of the time the instrument creating the power becomes irrevocable.
2004 Acts, ch 1015, §17
C2005, §633.910
2005 Acts, ch 38, §53
CS2005, §633E.10