Minnesota § 527.31 VALIDITY AND EFFECT OF TRANSFER

Minnesota Statutes

§ 527.31 — VALIDITY AND EFFECT OF TRANSFER

Minnesota § 527.31

PartPROBATE; PROPERTY; ESTATES; GUARDIANSHIPS; ANATOMICAL GIFTS

Ch. 527UNIFORM TRANSFERS TO MINORS ACT

This text of Minnesota § 527.31 (VALIDITY AND EFFECT OF TRANSFER) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 527.31 (2026).

Text

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

(1)failure of the transferor to comply with section527.29, paragraph (c), concerning possession and control;

(2)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 section527.29, paragraph (a); or

(3)death or incapacity of a person nominated under section527.23or designated under section527.29as custodian or the disclaimer of the office by that person.

(b)A transfer made pursuant to section527.29is 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

Free access — add to your briefcase to read the full text and ask questions with AI

(a) The validity of a transfer made in a manner prescribed in this chapter is not affected by:
(1) failure of the transferor to comply with section527.29, paragraph (c), concerning possession and control;
(2) 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 section527.29, paragraph (a); or
(3) death or incapacity of a person nominated under section527.23or designated under section527.29as custodian or the disclaimer of the office by that person.
(b) A transfer made pursuant to section527.29is 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.
(c) 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.