Minnesota § 529.10 - EXEMPTION OF THIRD PERSON FROM LIABILITY
Full text of Minnesota Minnesota Statutes § 529.10 — EXEMPTION OF THIRD PERSON FROM LIABILITY, with citation guidance and answers to common questions.
§ 529.10. EXEMPTION OF THIRD PERSON FROM LIABILITY
A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:
(1) the validity of the purported custodial trustee's designation;
(2) the propriety of, or the authority under sections 529.01 to 529.19 for, any action of the purported custodial trustee;
(3) the validity or propriety of an instrument executed or instruction given pursuant to sections 529.01 to 529.19 either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or
(4) the propriety of the application of property vested in the purported custodial trustee.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 529.10
What does Minnesota Statutes § 529.10 cover?
Section 529.10 ("EXEMPTION OF THIRD PERSON FROM LIABILITY") 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 § 529.10?
A common citation format is "Minnesota Statutes § 529.10" (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 § 529.10 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.