Full question:
I inherited some property from my father through intestate succession. I have to pledge the property. Is it possible under Virginia law to disclaim the property after it is released?
- Category: Wills and Estates
- Subcategory: Disclaimer of Property Interest
- Date:
- State: Virginia
Answer:
No, under Virginia law, you cannot disclaim property after it has been pledged. When you inherit property and then pledge it, you are effectively accepting the inheritance. Disclaiming property means you are stating that you do not want it, which cannot occur once you have taken any action indicating acceptance, such as pledging the property.
The relevant law states that a disclaimer is barred if you have accepted the interest, or if you have voluntarily assigned, conveyed, encumbered, pledged, or transferred the interest (Va. Code Ann. § 64.2-2611). Therefore, once you have pledged the property, you cannot later disclaim it.
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.