A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective:

1. (1) The disclaimant accepts the interest sought to be disclaimed.

2. (2) The disclaimant voluntarily:

   1. (A) assigns, conveys, encumbers, pledges, or transfers the interest sought to be disclaimed; or
   2. (B) contracts to take an action described in clause (A).
3. (3) A judicial sale of the interest sought to be disclaimed occurs.

As added by P.L.5-2003, SEC.1.