Dating a minor in texas northern mn dating

29-Oct-2020 02:18

The custodian has all the rights, powers, duties, and authority provided in this chapter, and the minor or the minor's legal representative does not have any right, power, duty, or authority with respect to the custodial property except as provided by this chapter.(c) By making a transfer, the transferor incorporates all the provisions of this chapter in the disposition and grants to the custodian, or to any third person dealing with a person designated as custodian, the respective powers, rights and immunities provided by this chapter.

(a) The validity of a transfer made in a manner prescribed by this chapter is not affected by the:(1) transferor's failure to comply with Section 141.010(c) concerning possession and control;(2) 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 Section 141.010(a); or(3) death or incapacity of a person nominated under Section 141.004 or designated under Section 141.010 as custodian or the disclaimer of the office by that person.(b) A transfer made under Section 141.010 is irrevocable, and the custodial property is indefeasibly vested in the minor.

If the instrument of designation does not contain or is not accompanied by the custodian's resignation, the designation of the successor does not take effect until the custodian resigns, dies, becomes incapacitated, or is removed.(c) A custodian may resign at any time by delivering:(1) written notice to the successor custodian and to the minor if the minor is at least 14 years of age; and(2) the custodial property to the successor custodian.(d) If a custodian is ineligible, dies, or becomes incapacitated without having effectively designated a successor and the minor is at least 14 years of age, the minor may designate as successor custodian an adult member of the minor's family, a guardian of the minor, or a trust company in the manner prescribed by Subsection (b).

A substitute custodian designated under this section has the rights of a successor custodian.(b) A custodian at any time may designate as successor custodian a trust company or an adult other than a transferor under Section 141.005 by executing and dating an instrument of designation before a subscribing witness other than the successor.

Dated: ____________________________________________________________(Signature of Custodian)(c) A transferor shall place the custodian in control of the custodial property as soon as practicable.

Dated: ________________________________________(Signature)____________________ (name of custodian) acknowledges receipt of the property described above as custodian for the minor named above under the Texas Uniform Transfers to Minors Act.

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Custodial property consisting of an undivided interest is so identified if the minor's interest is held as a tenant in common and is fixed.

All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.

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