Florida Statutes Title XL Chapter 710 - Transfers To Minors

• 710.101 - Short Title.
  This act may be cited as the “Florida Uniform Transfers to Minors Act.”History.—s. 1, ch. 85-95.
• 710.102 - Definitions.
  As used in this act, the term:(1) “Adult” means an individual who has attained the age of 21 years.(2) “Benefit plan” means a retirement plan and may...
• 710.103 - Scope And Jurisdiction.
  (1) This act applies to a transfer that refers to this act in the designation under s. 710.111(1) by which the transfer is made if at...
• 710.104 - Nomination Of Custodian.
  (1) A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to...
• 710.105 - Transfer By Gift Or Exercise Of Power Of Appointment.
  A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for...
• 710.106 - Transfer Authorized By Will Or Trust.
  (1) A personal representative or trustee may make an irrevocable transfer pursuant to s. 710.111 to a custodian for the benefit of a minor as authorized...
• 710.107 - Other Transfer By Fiduciary.
  (1) Subject to subsection (3), a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit...
• 710.108 - Transfer By Obligor.
  (1) Subject to subsections (2) and (3), a person not subject to s. 710.106 or s. 710.107 who holds property, including, but not limited to, a...
• 710.109 - Receipt For Custodial Property.
  A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this act.History.—s....
• 710.111 - Manner Of Creating Custodial Property And Effecting Transfer; Designation Of Initial Custodian; Control.
  (1) Custodial property is created and a transfer is made whenever:(a) An uncertificated security or a certificated security in registered form is either:1. Registered in the name of...
• 710.112 - Single Custodianship.
  A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this act by...
• 710.113 - Validity And Effect Of Transfer.
  (1) The validity of a transfer made in a manner prescribed in this act is not affected by:(a) Failure of the transferor to comply with s. 710.111(3)...
• 710.114 - Care Of Custodial Property.
  (1) A custodian shall:(a) Take control of custodial property;(b) Register or record title to custodial property if appropriate; and(c) Collect, hold, manage, invest, and reinvest custodial property.(2) In dealing with...
• 710.115 - Powers Of Custodian.
  (1) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own...
• 710.116 - Use Of Custodial Property.
  (1) A custodian may deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the custodian considers...
• 710.117 - Custodian’s Expenses, Compensation, And Bond.
  (1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian’s duties.(2) Except for one who is a...
• 710.118 - Exemption Of Third Person From Liability.
  A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make...
• 710.119 - Liability To Third Persons.
  (1) A claim based on:(a) A contract entered into by a custodian acting in a custodial capacity;(b) An obligation arising from the ownership or control of custodial property;...
• 710.121 - Renunciation, Resignation, Death, Or Removal Of Custodian; Designation Of Successor Custodian.
  (1) A person nominated under s. 710.104 or designated under s. 710.111 as custodian may decline to serve by delivering a valid disclaimer under chapter 739...
• 710.122 - Accounting By And Determination Of Liability Of Custodian.
  (1) A minor who has attained the age of 14 years, the minor’s guardian of the person or legal representative, an adult member of the minor’s...
• 710.123 - Termination Of Custodianship.
  (1) The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earlier of:(a) The minor’s attainment...
• 710.124 - Applicability.
  This act applies to a transfer within the scope of s. 710.103 made after October 1, 1985, if:(1) The transfer purports to have been made under...
• 710.125 - Effect On Existing Custodianships.
  (1) Any transfer of custodial property as now defined in this act made before October 1, 1985, is validated notwithstanding that there was no specific authority...
• 710.126 - Uniformity Of Application And Construction.
  This act shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this act...

Last modified: September 23, 2016