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) concerning possession and control;
(b) 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 s. 710.111(1); or
(c) Death or incapacity of a person nominated under s. 710.104 or designated under s. 710.111 as custodian or the disclaimer of the office by that person.
(2) A transfer made pursuant to s. 710.111 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 act, 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 act.
(3) By making a transfer, the transferor incorporates in the disposition all the provisions of this act 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 act.
History.—s. 1, ch. 85-95.
Section: Previous 710.105 710.106 710.107 710.108 710.109 710.111 710.112 710.113 710.114 710.115 710.116 710.117 710.118 710.119 710.121 NextLast modified: September 23, 2016