Minnesota § 529.10 EXEMPTION OF THIRD PERSON FROM LIABILITY

Minnesota Statutes

§ 529.10 — EXEMPTION OF THIRD PERSON FROM LIABILITY

Minnesota § 529.10

PartPROBATE; PROPERTY; ESTATES; GUARDIANSHIPS; ANATOMICAL GIFTS

Ch. 529UNIFORM CUSTODIAL TRUST ACT

This text of Minnesota § 529.10 (EXEMPTION OF THIRD PERSON FROM LIABILITY) 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. § 529.10 (2026).

Text

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:

(1)the validity of the purported custodial trustee's designation;

(2)the propriety of, or the authority under sections529.01to529.19for, any action of the purported custodial trustee;

(3)the validity or propriety of an instrument executed or instruction given pursuant to sections529.01to529.19either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or

(4)the propriety of the application of property vested in the purported custodial tr

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A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:
(1) the validity of the purported custodial trustee's designation;
(2) the propriety of, or the authority under sections529.01to529.19for, any action of the purported custodial trustee;
(3) the validity or propriety of an instrument executed or instruction given pursuant to sections529.01to529.19either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or
(4) the propriety of the application of property vested in the purported custodial trustee.