Illinois § 12 Validity and Effect of Transfer

Illinois Statutes

§ 12 — Validity and Effect of Transfer

Illinois § 12

TopicRIGHTS AND REMEDIES

Ch. 760TRUSTS AND FIDUCIARIES

Act 760 ILCS 20/Illinois Uniform Transfers to Minors Act.

This text of Illinois § 12 (Validity and Effect of Transfer) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

760 Ill. Comp. Stat. 12 (2026).

Text

(a)The validity of a transfer made in a manner prescribed in this Act is not affected by:

(1)failure of the transferor to comply with Section 10(c) concerning possession and control;

(2)designation of an ineligible custodian; or (3) death or incapacity of a person nominated under Section 4 or designated under Section 10 as custodian or the disclaimer of the office by that person.

(b)A transfer made pursuant to Section 10 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 Act, and neither the minor nor the minor's representative has any right, power, duty, or authority with respect to the custodial property except as provided in this Act.

(c)By making a transfer, the transf

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(a) The validity of a transfer made in a manner prescribed in this Act is not affected by: (1) failure of the transferor to comply with Section 10(c) concerning possession and control; (2) designation of an ineligible custodian; or (3) death or incapacity of a person nominated under Section 4 or designated under Section 10 as custodian or the disclaimer of the office by that person. (b) A transfer made pursuant to Section 10 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 Act, and neither the minor nor the minor's representative has any right, power, duty, or authority with respect to the custodial property except as provided in this Act. (c) By making a transfer, the transferor incorporates in the disposition all the provisions of this Act 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 Act.