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Can I renounce my inherited property interest in New York?

Can I renounce my inherited property interest in New York?

Q: Can you renounce an inheritance?

Yes, you can renounce an inheritance in New York. This process involves submitting a written renunciation to the court and notifying the fiduciary or person in possession of the property. Ensure that you complete this within nine months from when the inheritance becomes effective.

Q: How do you renounce interest in an estate?

To renounce your interest in an estate, you must submit a written renunciation to the court overseeing the estate. This document should be signed and acknowledged by you, and you may need to provide an affidavit confirming you received no consideration for the renunciation. Notify the fiduciary as well.

Q: What is the renunciation of inheritance?

Renunciation of inheritance is the legal process by which an heir voluntarily gives up their right to inherit property or assets from a deceased person's estate. This is typically done through a formal written declaration submitted to the court.

Full question:

I want to renounce the interest in property that I inherited through a will from my uncle. I am a New York citizen and want to know whether it is possible under the New York law and the steps involved in the process.

Category: Wills and Estates
Date: 04/07/2025
State: New York

Answer:

Yes, you can renounce your inherited property interest in New York. To do this, you must:

Submit a written renunciation that you sign and acknowledge.
File this document with the clerk of the court that has jurisdiction over the will governing the property.
Include an affidavit stating you have not received any consideration for the renunciation.
Send a notice of renunciation to the fiduciary or person in possession of the property's legal title.

You must complete the renunciation within nine months after the disposition becomes effective.

For more details, refer to NY EST POW & TRST § 2-1.11.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

How do you write a letter to renounce inheritance?

To write a letter to renounce an inheritance, start by clearly stating your intention to renounce the inheritance. Include your full name, address, and a statement that you are renouncing your interest in the property. Sign and date the letter, and have it notarized if required. Finally, file the letter with the appropriate court and send a copy to the fiduciary managing the estate.

Can you renounce an inheritance?

How do you renounce interest in an estate?

What is the renunciation of inheritance?

How do I disclaim an inheritance in New York?

To disclaim an inheritance in New York, you must file a written renunciation with the court that has jurisdiction over the estate. This document should be signed, acknowledged, and include an affidavit stating you have not received any consideration for the disclaimer. Remember to do this within nine months of the inheritance becoming effective.

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