Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
527.27 TRANSFER BY OBLIGOR.
(a) Subject to paragraphs (b) and (c), a person not subject to section 527.25 or 527.26 who
holds property of or owes a liquidated debt to a minor not having a conservator may make an
irrevocable transfer to a custodian for the benefit of the minor pursuant to section 527.29.
(b) If a person having the right to do so under section 527.23 has nominated a custodian
under that section to receive the custodial property, the transfer must be made to that person.
(c) If no custodian has been nominated under section 527.23, or all persons so nominated
as custodian die before the transfer or are unable, decline, or are ineligible to serve, a transfer
under this section may be made to an adult member of the minor's family or to a trust company
unless the property exceeds $10,000 in value.
History: 1985 c 221 s 7
(a) Subject to paragraphs (b) and (c), a person not subject to section 527.25 or 527.26 who
holds property of or owes a liquidated debt to a minor not having a conservator may make an
irrevocable transfer to a custodian for the benefit of the minor pursuant to section 527.29.
(b) If a person having the right to do so under section 527.23 has nominated a custodian
under that section to receive the custodial property, the transfer must be made to that person.
(c) If no custodian has been nominated under section 527.23, or all persons so nominated
as custodian die before the transfer or are unable, decline, or are ineligible to serve, a transfer
under this section may be made to an adult member of the minor's family or to a trust company
unless the property exceeds $10,000 in value.
History: 1985 c 221 s 7
Official Publication of the State of Minnesota
Revisor of Statutes