disclaimer
A disclaimer refers to:
- The refusal to take responsibility for someone else's claim , such as a refusal by an insurance company to grant coverage under an insurance policy;
-
The refusal or
renunciation
by someone of their
right
to a
property
.
- For example, if an heir receives a devise through intestate succession that the heir does not want to keep, the heir may disclaim the devise.
- When an heir disclaims a devise it will pass through intestate succession as if the heir who was supposed to receive the devise predeceased the decedent .
- A declaration of non-responsibility, such as when dissolving a partnership or enterprise.
[Last reviewed in October of 2022 by the Wex Definitions Team ]
Wex