Section 527.44 — Short Title.
527.44 SHORT TITLE. This chapter may be cited as the “Minnesota Uniform Transfers to Minors Act.” History: 1985 c 221 s 24
Section 527.34 — Use Of Custodial Property.
527.34 USE OF CUSTODIAL PROPERTY. (a) A custodian may deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to (i) the duty or ability of the custodian […]
Section 527.35 — Custodian’s Expenses, Compensation, And Bond.
527.35 CUSTODIAN’S EXPENSES, COMPENSATION, AND BOND. (a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties. (b) Except for one who is a transferor under section 527.24, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed […]
Section 527.36 — Exemption Of Third Person From Liability.
527.36 EXEMPTION OF THIRD PERSON FROM LIABILITY. A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining: […]
Section 527.37 — Liability To Third Persons.
527.37 LIABILITY TO THIRD PERSONS. (a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership or control of custodial property, or (iii) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian […]
Section 527.38 — Renunciation, Resignation, Death, Or Removal Of Custodian; Designation Of Successor Custodian.
527.38 RENUNCIATION, RESIGNATION, DEATH, OR REMOVAL OF CUSTODIAN; DESIGNATION OF SUCCESSOR CUSTODIAN. (a) A person nominated under section 527.23 or designated under section 527.29 as custodian may decline to serve by delivering a valid disclaimer to the person who made the nomination or to the transferor or the transferor’s legal representative. If the event giving […]
Section 527.39 — Accounting By And Determination Of Liability Of Custodian.
527.39 ACCOUNTING BY AND DETERMINATION OF LIABILITY OF CUSTODIAN. (a) A minor who has attained the age of 14 years, the minor’s guardian or legal representative, an adult member of the minor’s family, a transferor, or a transferor’s legal representative may petition the court (i) for an accounting by the custodian or the custodian’s legal […]
Section 527.40 — Transfer Upon Termination Of Custodianship.
527.40 TRANSFER UPON TERMINATION OF CUSTODIANSHIP. Subdivision 1. Terminating events. The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earlier of the following terminating events: (1) the minor’s attainment of 21 years of age with respect to custodial property transferred under section 527.24, […]
Section 527.405 — Conveyance By Custodian.
527.405 CONVEYANCE BY CUSTODIAN. Subdivision 1. Affidavit of custodian. In support of a real property transaction where an interest in real property is held in a custodianship, a custodian shall furnish to the grantee or other party to the transaction an affidavit attesting that: (1) the custodian has not resigned or been removed prior to […]
Section 527.41 — Applicability.
527.41 APPLICABILITY. Sections 527.21 to 527.40 apply to a transfer within the scope of section 527.22 made after January 1, 1986, if: (1) the transfer purports to have been made under Minnesota Statutes 1984, sections 527.01 to 527.11; or (2) the instrument by which the transfer purports to have been made uses in substance the […]