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Disclaim

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Definition of 'Disclaim'

To renounce an interest or obligation by way of a legal instrument - usually a written disclaimer, or a disclaiming trust. Property may be disclaimed for several reasons: because it is unwanted, because it carries heavy liabilities, because of tax reasons, or because the intended beneficiary wants to pass the property to another beneficiary. Liabilities, obligations, beneficial ownership, or rights may also be disclaimed.
Investopedia Says

Investopedia explains 'Disclaim'

1. When analyzing a company's proxy statement, it is common to read that a member of an executive's family owns a number of shares, but the executive disclaims beneficial ownership in the stock.

2. In succession planning, a beneficiary may disclaim an inheritance, thus passing the inherited property to the contingent beneficiary and avoiding inheritance taxes, as well as any liabilities that may come with the property.

Articles Of Interest

  1.

    Want To Know What Disclosures Mean ... In Plain English?

    Disclosures are the fine print in financial reports. We strip away the legal speak to tell you what they really mean.

  2. Disclaiming Inherited Plan Assets

    There are some good reasons for choosing not to accept the funds, but be sure you follow the proper process.

  3. Refusing An Inheritance

    Contrary to popular belief, inheriting assets isn't always a good thing. Find out what to do if you want to disclaim them.

  4. Changes In Tax Legislation And Regulation

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  5. Easy Ways To Cut Rental Costs

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  6. What is an alienation clause?

    Whether used in reference to insurance policies, mortgages or commercial loans, an alienation clause stipulates that should a purchaser or borrower sell his or her interest to another party, ...
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