Maine Revised Statutes Title 33 Sec. 1671 – Termination of custodianship
Current as of: 2023 | Check for updates
|
Other versions
The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earlier of: [PL 1987, c. 734, §2 (NEW).]
1. Transferor’s option. The minor’s attainment of 18 years of age with respect to custodial property transferred under section 1655 or 1656, unless the transferor has specified in writing in the transferring instrument that the transfer shall not occur until the minor attains a later age, not to exceed 21 years of age. The following words or their substantial equivalent must appear in the transferring instrument:
“The custodian shall transfer……………. (description of property) to………….(name of minor) when……..(he or she) reaches the age of………………(age at which transfer will occur);”
[PL 1987, c. 734, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 33 Sec. 1671
- in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72
- Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72
2. Attainment of majority. The minor’s attainment of majority under the laws of this State other than this Act with respect to custodial property transferred under section 1657 or 1658; or
[PL 1987, c. 734, §2 (NEW).]
3. Death. The minor’s death.
[PL 1987, c. 734, §2 (NEW).]
SECTION HISTORY
PL 1987, c. 734, §2 (NEW).