DEED OF DISCLAIMER

DEED OF DISCLAIMER

Not every gift is a blessing. Sometimes rejecting it is the smart choice. That is what a Deed of Disclaimer makes possible.

A Deed of Disclaimer is a legal document that allows a person to formally renounce or reject a right, property or benefit he is entitled to.

It is a clear written declaration that says: “I don’t want this right or property. I do not also want any share, claim or liability tied to it.” Once signed, it is final and irrevocable.

A Deed of Disclaimer identifies the person disclaiming, describes the property/interest being rejected and states that the person permanently gives up all his rights and duties connected to it. It also confirms that the person will not later seek to claim or enforce any benefit.

In inheritance, someone named as a beneficiary in a Will may disclaim his share. In property or trusts, a beneficiary may disclaim rights that carry heavy obligations he does not wish to bear.

In business or partnership, a partner can disclaim an interest in an asset if keeping it would expose him to unnecessary risks.

The benefits are that it provides certainty, helps you avoid unwanted obligations and protects you from being tied to unwanted burdens. But once you reject, you cannot take it later.

A Deed of Disclaimer should be prepared by an experienced Property and Business Lawyer, because a single sentence in it can bring intended legal consequences.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

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