2010 Michigan Compiled Laws
Chapter 554 - REAL AND PERSONAL PROPERTY
Act 433 of 1998 - MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (554.521 - 554.552)
Section 554.547 - Transfer of property to minor; delay.
MICHIGAN UNIFORM TRANSFERS TO MINORS ACT (EXCERPT)Act 433 of 1998
554.547 Transfer of property to minor; delay.
Sec. 27.
(1) Transfer of custodial property to the minor that is transferred to the custodian under section 8 or 9 may be delayed as provided in this section until a specified time after the minor is 18 years of age. The time of transfer to the minor shall be specified in the transfer executed under section 13 by using the words “as custodian for (name of minor) until age _____ under the Michigan uniform transfers to minors act”.
(2) Transfer to the minor of custodial property transferred to the custodian under section 8 shall not be delayed later than the minor's twenty-first birthday. Transfer to the minor of custodial property transferred to the custodian under section 9 shall not be delayed unless the governing will or trust provides in substance that the custodianship continues until the minor is a specified age, not later than the minor's twenty-first birthday and that the will or trust determines the time to be specified in the transfer.
History: 1998, Act 433, Imd. Eff. Dec. 30, 1998
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