Sec. 28. (a) A custodian acting in a custodial capacity has all the rights, powers, and authority over custodial property that an unmarried adult owner has over the adult owner’s own property, but a custodian may exercise those rights, powers, and authority in a custodial capacity only.

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Terms Used In Indiana Code 30-2-8.5-28

  • adult: means an individual who is at least twenty-one (21) years of age. See Indiana Code 30-2-8.5-1
  • custodial property: means :

    Indiana Code 30-2-8.5-4

  • custodian: means a person designated as a custodian under section 24 of this chapter or a successor or substitute custodian designated under section 33 of this chapter. See Indiana Code 30-2-8.5-5
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
     (b) This section does not relieve a custodian from liability for breach of the requirements of section 27 of this chapter.

As added by P.L.267-1989, SEC.2.

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