The bill S.179, introduced by Senator Hashim, seeks to establish the Vermont Uniform Disclaimer of Property Interests Act by creating a new chapter, Chapter 129, which provides a comprehensive legal framework for disclaiming interests in property. This legislation includes definitions for key terms such as "disclaimant," "disclaimed interest," and "fiduciary," and clarifies that the principles of law and equity will apply unless otherwise specified. It outlines the requirements for making a disclaimer, including the necessity of a written declaration signed by the disclaimant, and specifies who can make a disclaimer, including individuals, fiduciaries, and parents acting on behalf of minors or incapacitated individuals.

Additionally, the bill introduces new provisions regarding the processes for disclaimers related to jointly held property and powers of appointment, detailing how disclaimers should be delivered and filed. It establishes conditions under which disclaimers become irrevocable and clarifies that they can be barred by a written waiver or certain events occurring prior to the disclaimer taking effect. The bill also repeals the existing Uniform Disclaimer of Property Interests Act and includes a severability clause to maintain the enforceability of remaining provisions if any part is deemed invalid. Furthermore, it addresses the relationship to federal electronic signature laws, ensuring that specific notices cannot be delivered electronically.