2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 53 - Pennsylvania Uniform Transfers to Minors Act
5321 - Delay in transfer of custodial property after minor attains age 21.

     § 5321.  Delay in transfer of custodial property after minor
                attains age 21.
        (a)  General rule.--Subject to the requirements and
     limitations of this section, the time for transfer to the minor
     of custodial property transferred under or pursuant to section
     5303 (relating to nomination of custodian), 5304 (relating to
     transfer by gift or exercise of power of appointment) or 5305
     (relating to transfer authorized by will or trust) may be
     delayed until a specified time after the time the minor attains
     21 years of age, which time shall be specified in the transfer
     pursuant to section 5309 (relating to manner of creating
     custodial property and effecting transfer).
        (b)  How to specify a delayed time for transfer.--To specify
     a delayed time for transfer to the minor of the custodial
     property, the words "as custodian for (name of minor) until age
     (age for delivery of property to minor) under the Pennsylvania
     Uniform Transfers to Minors Act" shall be substituted in
     substance for the words "as custodian for (name of minor) under
     the Pennsylvania Uniform Transfers to Minors Act" in making the
     transfer pursuant to section 5309.
        (c)  Transfer authorized by will or trust; nomination of
     custodian.--The time for transfer to the minor of custodial
     property transferred under or pursuant to section 5303 or 5305
     may be delayed under this section only if the governing will or
     trust or nomination provides in substance that the custodianship
     is to continue until the time the minor attains a specified age,
     which time may not be later than the time the minor attains 25
     years of age, and in that case the governing will or trust or
     nomination shall determine the time to be specified in the
     transfer pursuant to section 5309.
        (d)  Transfer by exercise of power appointment.--The time for
     transfer to the minor of custodial property transferred by the
     irrevocable exercise of a power of appointment under section
     5304 may be delayed under this section only if the transfer
     pursuant to section 5309 provides in substance that the
     custodianship is to continue until the time the minor attains a
     specified age, which time may not be later than the time the
     minor attains 25 years of age.
        (e)  When section not applicable.--This section shall not
     apply to the time for transfer to the minor of custodial
     property transferred by irrevocable gift under section 5304.
        (f)  When transfer does not specify age.--If the transfer
     pursuant to section 5309 does not specify any age, the time for
     the transfer of the custodial property to the minor under
     section 5320 (relating to termination of custodianship) is the
     time when the minor attains 21 years of age.
        (g)  When transfer provides for a longer duration of
     custodianship than permitted by this section.--If the transfer
     pursuant to section 5309 provides in substance that the duration
     of the custodianship is for a time longer than the maximum time
     permitted by this section for the duration of a custodianship
     created by that type of transfer, the custodianship shall be
     deemed to continue only until the time the minor attains the
     maximum age permitted by this section for the duration of a
     custodianship created by that type of transfer.
     (May 16, 2002, P.L.330, No.50, eff. 60 days)

        2002 Amendment.  Act 50 added section 5321. See section 14(a)
     of Act 50 in the appendix to this title for special provisions
     relating to applicability.
        Cross References.  Section 5321 is referred to in sections
     5301, 5320 of this title.