New York § 7-6.7 Transfer by obligor

New York Statutes

§ 7-6.7 — Transfer by obligor

New York § 7-6.7

Law EPTEstates, Powers & Trusts

Part 6Uniform Transfers to Minors Act

Art. 7Trusts

This text of New York § 7-6.7 (Transfer by obligor) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Estates, Powers & Trusts § 7-6.7 (2026).

Text

§ 7-6.7 Transfer by obligor\n  (a) Subject to paragraphs (b) and (c), a person not subject to 7-6.5\nor 7-6.6 who holds property of or owes a liquidated debt to a minor not\nhaving a guardian may make an irrevocable transfer to a custodian for\nthe benefit of the minor pursuant to 7-6.9.\n  (b) If a person having the right to do so under 7-6.3 has nominated a\ncustodian under that section to receive the custodial property, the\ntransfer must be made to that person.\n  (c) If no custodian has been nominated under 7-6.3, or all persons so\nnominated as custodian die before the transfer or are unable, decline,\nor are ineligible to serve, a transfer under this section may be made to\nan adult member of the minor's family, unless the property exceeds fifty\nthousand dollars in value, or to a t

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§ 7-6.7 Transfer by obligor\n (a) Subject to paragraphs (b) and (c), a person not subject to 7-6.5\nor 7-6.6 who holds property of or owes a liquidated debt to a minor not\nhaving a guardian may make an irrevocable transfer to a custodian for\nthe benefit of the minor pursuant to 7-6.9.\n (b) If a person having the right to do so under 7-6.3 has nominated a\ncustodian under that section to receive the custodial property, the\ntransfer must be made to that person.\n (c) If no custodian has been nominated under 7-6.3, or all persons so\nnominated as custodian die before the transfer or are unable, decline,\nor are ineligible to serve, a transfer under this section may be made to\nan adult member of the minor's family, unless the property exceeds fifty\nthousand dollars in value, or to a trust company.\n