§ 565B.11 — Validity and effect of transfer

Iowa § 565B.11

• Jurisdiction: Iowa
• Title XIV: PROPERTY
• Ch. 565B: TRANSFERS TO MINORS

Text

1. The validity of a transfer made in a manner prescribed in this chapter is not affected
by:
a. The failure of the transferor to comply with section 565B.9, subsection 3, concerning
possession and control;
b. The designation of an ineligible custodian, except designation of the transferor in the
case of property for which the transferor is ineligible to serve as custodian under section
565B.9, subsection 1; or
c. The death or incapacity of a person nominated under section 565B.3 or designated
under section 565B.9 as custodian or the disclaimer of the office by that person.
2. A transfer made pursuant to section 565B.9 is irrevocable, and the custodial property
is indefeasibly vested in the minor, but the custodian has all the rights, powers, duties, and
authority provided in this chapter, and neither the minor nor the minor’s legal representative
has any right, power, duty, or authority with respect to the custodial property except as
provided in this chapter.
3. By making a transfer, the transferor incorporates in the disposition all the provisions
of this chapter and grants to the custodian and to any third person dealing with a person
designated as custodian the respective powers, rights, and immunities provided in this
chapter.