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 attainment of 21 years of age with respect to custodial property transferred under section gift or exercise of power of appointment” class=”unlinked-ref” datatype=”S” sessionyear=”2020″ statecd=”AL” title=”35″>35-5A-5 or 35-5A-6;
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Terms Used In Alabama Code 35-5A-21

  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • property: includes both real and personal property. See Alabama Code 1-1-1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
(2) The minor’s attainment of majority under the laws of this state other than this chapter with respect to custodial property transferred under section 35-5A-7 or 35-5A-8; or
(3) The minor’s death.
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