Rhode Island § 18-7-12 § 18-7-12. Validity and effect of transfer.

Rhode Island Statutes

§ 18-7-12 — § 18-7-12. Validity and effect of transfer.

Rhode Island § 18-7-12

Title 18Fiduciaries

Ch. 18-7Uniform Transfers to Minors Act

This text of Rhode Island § 18-7-12 (§ 18-7-12. Validity and effect of transfer.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 18-7-12 (2026).

Text

§ 18-7-12. Validity and effect of transfer.
(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 § 18-7-10(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
            § 18-7-10; or
         
(3) Death or incapacity of a person nominated under § 18-7-4 or designated under § 18-7-10 as custodian or the disclaimer

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

§ 18-7-12. Validity and effect of transfer.

(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 § 18-7-10(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 § 18-7-10; or

(3) Death or incapacity of a person nominated under § 18-7-4 or designated under § 18-7-10 as custodian or the disclaimer of the office by that person.

(b) A transfer made pursuant to § 18-7-10 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 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.