Minnesota § 527.31 - VALIDITY AND EFFECT OF TRANSFER
Full text of Minnesota Minnesota Statutes § 527.31 — VALIDITY AND EFFECT OF TRANSFER, with citation guidance and answers to common questions.
§ 527.31. VALIDITY AND EFFECT OF TRANSFER
(a) The validity of a transfer made in a manner prescribed in this chapter is not affected by:
(1) failure of the transferor to comply with section 527.29, paragraph (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 527.29, paragraph (a); or
(3) death or incapacity of a person nominated under section 527.23 or designated under section 527.29 as custodian or the disclaimer of the office by that person.
(b) A transfer made pursuant to section 527.29 is irrevocable, and the custodial property is indefeasibly vested in the minor, but the custodian has all the rights, powers, duties, and authority provided in this chapter, and neither the minor nor the minor's legal representative has any right, power, duty, or authority with respect to the custodial property except as provided in this chapter.
(c) By making a transfer, the transferor incorporates in the disposition all the provisions of this chapter and grants to the custodian, and to any third person dealing with a person designated as custodian, the respective powers, rights, and immunities provided in this chapter.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 527.31
What does Minnesota Statutes § 527.31 cover?
Section 527.31 ("VALIDITY AND EFFECT OF TRANSFER") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 527.31?
A common citation format is "Minnesota Statutes § 527.31" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 527.31 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.