2006 Minnesota Code
Chapters 524 - 532 Estates of Decedents; Guardianships
Chapter 527 Uniform Transfers to Minors Act
Section 527.27 TRANSFER BY OBLIGOR.
527.27 TRANSFER BY OBLIGOR.
(a) Subject to paragraphs (b) and (c), a person not subject to section
527.25 or
527.26 who
holds property of or owes a liquidated debt to a minor not having a conservator may make an
irrevocable transfer to a custodian for the benefit of the minor pursuant to section
527.29.
(b) If a person having the right to do so under section
527.23 has nominated a custodian
under that section to receive the custodial property, the transfer must be made to that person.
(c) If no custodian has been nominated under section
527.23, or all persons so nominated
as custodian die before the transfer or are unable, decline, or are ineligible to serve, a transfer
under this section may be made to an adult member of the minor's family or to a trust company
unless the property exceeds $10,000 in value.
History: 1985 c 221 s 7
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