|
|
Court OpinionsState LawsUS CodeUS Constitution |
Texas Property Code - Chapter 141 Transfers To MinorsLegal Research Home > Texas Lawyer > Property Code > Texas Property Code - Chapter 141 Transfers To Minors This chapter may be cited as the Texas Uniform Transfers to Minors Act. Amended by Acts 1995, 74th Leg., ch. 1043, § 1, eff. Sept. ... In this chapter: (1) "Adult" means an individual who is at least 21 years of age. (2) "Benefit plan" means an employer's plan for the ... (a) This chapter applies to a transfer that refers to the Texas Uniform Transfers to Minors Act in the designation under Section 141.010(a) by which ... (a) A person having the right to designate the recipient of property transferable on the occurrence of a future event may revocably nominate a custodian ... 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 ... (a) A legal representative or trustee may make an irrevocable transfer under Section 141.010 to a custodian for a minor's benefit as authorized in the ... (a) Subject to Subsections (b) and (c), a guardian, legal representative, or trustee may make an irrevocable transfer to another adult or trust company as ... (a) Subject to Subsections (b) and (c), a person who is not subject to Section 141.006 or 141.007 and who holds property of or owes ... A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian under this chapter. Amended ... (a) Custodial property is created and a transfer is made when: (1) an uncertificated security or a certificated security in registered form is: (A) registered ... A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by ... (a) The validity of a transfer made in a manner prescribed by this chapter is not affected by the: (1) transferor's failure to comply with ... (a) A custodian shall: (1) take control of custodial property; (2) register or record title to custodial property if appropriate; and (3) collect, hold, manage, ... (a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their ... (a) A custodian may deliver or pay to the minor or expend for the minor's benefit as much of the custodial property as the custodian ... (a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. (b) Except for one ... 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 ... (a) A claim based on a contract entered into by a custodian acting in a custodial capacity, an obligation arising from the ownership or control ... (a) A person nominated to serve as a custodian under Section 141.004 or designated to serve as a custodian under Section 141.010 may decline to ... (a) A minor who is at least 14 years of age, the minor's guardian of the person or legal representative, an adult member of the ... The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate on the earlier of the date: ... Except as provided by Section 141.025, this chapter applies to a transfer within the scope of Section 141.003 made after September 1, 1995, if: (1) ... (a) Any transfer of custodial property under this chapter made before September 1, 1995, is validated notwithstanding that there was no specific authority in this ... This chapter shall be applied and construed to effect its general purpose, to make uniform the law with respect to the subject of this chapter ... (a) This section applies only to a transfer within the scope of Section 141.003 made after September 1, 1995, to a custodian of a custodianship ... Last modified: August 10, 2007 |