The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earlier of:

(1) the minor’s becoming 21 years old with respect to custodial property transferred under Section 75A-8-105 or 75A-8-106;
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Terms Used In Utah Code 75A-8-121

  • Custodial property: means :
         (7)(a) any interest in property transferred to a custodian under this chapter; and
         (7)(b) the income from and proceeds of that interest in property. See Utah Code 75A-8-102
  • Custodian: means a person so designated under Section 75A-8-110 or a successor or substitute custodian designated under Section 75A-8-119. See Utah Code 75A-8-102
  • Estate: means the same as that term is defined in Section 75-1-201. See Utah Code 75A-8-102
  • Minor: means an individual who is under 21 years old. See Utah Code 75A-8-102
  • Property: means the same as that term is defined in Section 75-1-201. See Utah Code 75A-8-102
  • State: includes any state of the United States, the district of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Utah Code 75A-8-102
  • Transfer: means a transaction that creates custodial property under Section 75A-8-109. See Utah Code 75A-8-102
(2) the minor’s attainment of majority under the laws of this state with respect to the custodial property transferred under Section 75A-8-107 or 75A-8-108; or
(3) the minor’s death.

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