reglab/housing_qa huggingface dataset:
NJ Rev Stat § 46:38-28 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-28 - Reimbursement for expenses; compensation; bond; liability for losses

46:38-28. Reimbursement for expenses; compensation; bond; liability for losses  (a) A custodian is entitled to reimbursement from the custodial property for his reasonable expenses incurred in the performance of his duties.  (b) A custodian may act without compensation for his services.  (c) Unless he is a donor, a custodian may receive from the custodial property reasonable compensation for his services determined by:  (1) A direction by the donor when the gift is made; or  (2) In the absence of a direction by the donor, such compensation as provided by the law of this State governing compensation of a guardian of the estate of a minor.  (d) A custodian need not give a bond concerning the performance of his duties unless required to do so by this act or by court order.  (e) A custodian not compensated for his services is not liable for losses to the custodial property unless they result from his bad faith, intentional wrongdoing or gross negligence or from his failure to maintain the standard of prudence in investing the custodial property provided in this act. L. 1963, c. 177, s. 16. Amended by L.1981, c. 377, s. 14, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-29 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-29 - Exemption of third persons from liability

46:38-29. Exemption of third persons from liability  An issuer, transfer agent, bank, life insurance company, broker or other person acting on the instructions of or otherwise dealing with any person purporting to act as a donor or custodian (a) is not responsible for determining whether the person designated by the purported donor or by the custodian purporting to act as custodian has been duly designated or whether any purchase, sale or transfer to or by, or any other act of, any person purporting to act as custodian is in accordance with or authorized by this act; (b) is not obliged to inquire into the validity or propriety under this act of any instrument or instructions executed or given by a person purporting to be a donor or custodian; and (c) is not bound to see to the application, by any person purporting to be a custodian, of any money or other property paid or delivered to him. An issuer, transfer agent, bank, life insurance company, broker or other person acting on any instrument of designation of a successor custodian, executed as provided in this act by a minor to whom a gift has been made in the manner prescribed in this act and who has attained the age of 14 years, is not responsible for determining whether the person designated by the minor as successor custodian has been duly designated, nor obliged to inquire into the validity or propriety under this act of the instrument of designation.  L. 1963, c. 177, s. 17. Amended by L.1981, c. 377, s. 15, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-30 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-30 - Resignation of custodian; procedure

46:38-30. Resignation of custodian; procedure  (a) If a successor custodian who is then in being has been designated, the custodian may resign by (1) executing an instrument of resignation, (2) causing each security which is custodial property and in registered form or a life insurance or endowment policy or annuity contract to be registered, and each account with a broker or in a bank to be carried, in the name of the successor custodian followed by substantially the following language: "as custodian for ....................... (name of minor) under the New Jersey Uniform Gifts to Minors Act," and (3) delivering to the successor custodian the instrument of resignation, each security registered in the name of the successor custodian and all other custodial property, together with any additional instruments required for the transfer thereof, or  (b) If a successor custodian who is then in being has not been designated, the custodian may resign by executing an instrument of resignation designating a successor custodian and taking the steps described in subsection (a)(2) and (a)(3) of this section, or otherwise in accordance with the order of the court, upon application to the court by the custodian for permission to resign and for the designation of a successor custodian.  An ineligible person who has accepted a designation as custodian shall be deemed a lawful custodian for the purpose of the application of the resignation procedure and the powers provided in this section.  L. 1963, c. 177, s. 18. Amended by L.1981, c. 377, s. 16, eff. March 1, 1982; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-32 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-32 - Death, renunciation of custodian

46:38-32. Death, renunciation of custodian  20. Upon the death of a custodian or renunciation of a custodian designee for whom a successor custodian has been designated or provided by law, the certificate of death, a written renunciation or a written recital of the renunciation, as the case may be, shall be full warrant to all persons for immediate transfer of the custodial property to the successor if the minor is then under 21 years of age. The successor shall cause each security which is custodial property and in registered form to be registered, and each account with a broker or in a bank to be carried, in the name of the successor custodian , or a trust company, followed by substantially the following language: "as custodian for ........................ (name of minor) under the New Jersey Uniform Gifts to Minors Act" ; and shall cause each such security and all other custodial property to be delivered to him together with any additional instruments required for the transfer thereof. L.1963,c.177,s.20; repealed R.S.46:38A-57 (effective July 1, 2007); amended 1997, c.33, s.20.
NJ Rev Stat § 46:38-33 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-33 - Requiring custodian to give bond; removal of custodian; transfer of custodial property

46:38-33. Requiring custodian to give bond; removal of custodian; transfer of custodial property  Upon application of the donor, the legal representative of a donor, an adult member of the minor's family, a guardian of the minor, or the minor if he has attained the age of 14 years, the court for cause shown may (1) require the custodian to give bond for the performance of his duties, or (2) remove the custodian and, if no person designated as successor custodian is then in being, designate a successor custodian, and (3) take such other action as it deems in the best interest of the minor.  If the court orders removal it shall provide for delivery of all custodial property to the successor custodian and the execution of all instruments required for the transfer thereof.  L.1963, c. 177, s. 21; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-34 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-34 - Accounting by custodian

46:38-34. Accounting by custodian  The court may require or permit the custodian or his legal representative to account incident to any proceeding under this act, or in a separate proceeding upon application of the minor if he has attained 14 years of age, the legal representative of the minor, an adult member of the minor's family or a donor or his legal representative. The court shall require an accounting if it removes a custodian.  L.1963, c. 177, s. 22; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-35 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-35 - Delivery of notice

46:38-35. Delivery of notice  A delivery of a notice to a person under this act may be effected either (a) by personal delivery to the person, (b) by personal delivery at his residence to a member of his household who has attained 14 years of age, or (c) by registered or certified mail addressed to his residence.  L.1963, c. 177, s. 23; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-36 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-36 - Construction of act

46:38-36. Construction of act  (a) This act shall be construed to promote uniformity with similar laws of other States.  (b) The methods for making gifts to minors provided by this act are not exclusive.  L.1963, c. 177, s. 24; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-37 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-37 - Model act; application and repeal

46:38-37. Model act; application and repeal  "An act concerning gifts of securities to minors," approved July 14, 1955 (P.L.1955, c. 139), hereinafter called the "Model Act," shall not apply to any gift made to a minor on or after the effective date of this act. The Model Act is repealed effective July 1, 1985. L.1963, c. 177, s. 25.
NJ Rev Stat § 46:38-38 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-38 - Gifts made under model act

46:38-38. Gifts made under model act  All gifts made before the effective date of this act under the Model Act shall continue to be governed by the Model Act.  L.1963, c. 177, s. 26; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-39 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-39 - Gifts authorized or directed to be made under model act

46:38-39. Gifts authorized or directed to be made under model act  All gifts which were, before the effective date of this act, authorized or directed to be made under the Model Act shall, if made, be made under this act.  L.1963, c. 177, s. 27; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-40 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-40 - Reservation of power

46:38-40. Reservation of power  The Legislature reserves the power to amend, supplement and repeal this act.  L.1963, c. 177, s. 28; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38-41 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38-41 - Provisions severable

46:38-41. Provisions severable  29. If any provision of this act, or any application of any provision, is held invalid, the invalidity shall not affect other applications of the provision, or other provisions of the act, which reasonably can be given effect despite the invalidity. L.1963,c.177,s.29; repealed R.S. 46:38A-57 (effective July 1, 2007).
NJ Rev Stat § 46:38A-1 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-1 - Short title

46:38A-1. Short title  This chapter shall be known and may be cited as the "New Jersey Uniform Transfers to Minors Act."  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-2 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-2 - Definitions

46:38A-2. Definitions  As used in this chapter:  a. "Adult" means an individual who has attained the age of 21 years;  b. "Broker" means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others;  c. "Court" means the Superior Court;  d. "Custodial property" means any interest in property transferred to a custodian under this chapter and the income from and proceeds of that interest in property;  e. "Custodian" means a person so designated under R.S. 46:38A-19 or a successor or substitute custodian designated under R.S. 46:38A-42 through R.S. 46:38A-45;  f. "Financial institution" means a bank, trust company, savings institution, savings and loan association or credit union, chartered and supervised under State or federal law;  g. "Guardian" of a minor means a guardian of his estate or person;  h. "Legal representative" means an individual's personal representative or guardian;  i. "Member of the minor's family" means the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption;  j. "Minor" means an individual who has not attained the age of 21 years; k. "Person" means an individual, corporation, organization, or other legal entity;  l. "Personal representative" means an executor, administrator, successor personal representative of a decedent's estate or a person legally authorized to perform substantially the same functions but excludes a special administrator;  m. "State" includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States;  n. "Transfer" means a transaction that creates custodial property under R.S. 46:38A-19;  o. "Transferor" means a person who makes a transfer under this chapter;  p. "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. Source: New.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-3 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-3 - Scope of chapter

46:38A-3. Scope of chapter  This chapter applies to a transfer referred to in this chapter in a designation under R.S. 46:38A-19 by which the transfer is made if at the time of the transfer, the transferor, the minor, the custodian is a resident of this State or the custodial property is located in this State. The custodianship so created remains subject to this chapter despite a subsequent change in residence of a transferor, the minor, the custodian or the removal of custodial property from this State.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-4 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-4 - Jurisdiction over custodian

46:38A-4. Jurisdiction over custodian  A person designated as custodian under this chapter is subject to personal jurisdiction in this State with respect to any matter relating to the custodianship.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-5 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-5 - Choice of law

46:38A-5. Choice of law  A transfer that purports to be made and which is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act, or a substantially similar act, of another state is governed by the law of the designated state and may be executed and is enforceable in this State if at the time of the transfer, the transferor, the minor, or the custodian is a resident of the designated state or the custodial property is located in the designated state. L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-6 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-6 - Revocable nomination of custodian based upon happening of future event

46:38A-6. Revocable nomination of custodian based upon happening of future event  A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occurrence of the event by naming the custodian followed in substance by the words: "as custodian for ....................... (name of minor) under the New Jersey Uniform Transfers to Minors Act." The nomination may name one or more persons as substitute custodians to whom the property shall be transferred, in the order named, if the first nominated custodian dies before the transfer or is unable, declines, or is ineligible to serve. The nomination may be made in a will, a trust, a deed, an instrument exercising a power of appointment, or in a writing designating a beneficiary of contractual rights which is registered with or delivered to the payor, issuer, or other obligor of the contractual rights. A custodian nominated under this section shall be a person to whom a transfer of property of that kind may be made under R.S. 46:38A-19.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-7 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-7 - When custodianship becomes effective under revocable nomination of custodian

46:38A-7. When custodianship becomes effective under revocable nomination of custodian  The nomination of a custodian under R.S. 46:38A-6 does not create custodial property until the nominating instrument becomes irrevocable or a transfer to the nominated custodian is completed under R.S. 46:38A-19. Unless the nomination of a custodian has been revoked, upon the occurrence of the future event the custodianship becomes effective and the custodian shall enforce a transfer of the custodial property pursuant to R.S. 46:38A-19.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-8 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-8 - Transfer by gift or exercise of power of appointment

46:38A-8. Transfer by gift or exercise of power of appointment  A person may, pursuant to R.S. 46:38A-19, make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-9 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-9 - Transfer authorized by will or trust

46:38A-9. Transfer authorized by will or trust  A personal representative or trustee may, pursuant to R.S. 46:38A-19, make an irrevocable transfer to a custodian for the benefit of a minor as authorized in the governing will or trust.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-10 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-10 - Transfer under will or trust; transfer to be made to nominated custodian

46:38A-10. Transfer under will or trust; transfer to be made to nominated custodian  If the testator or the settlor of a trust has nominated a custodian under R.S. 46:38A-6 to receive the custodial property, the transfer shall be made to that person.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-11 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-11 - Transfer under will or trust; custodian not nominated or dead, etc.

46:38A-11. Transfer under will or trust; custodian not nominated or dead, etc.  If the testator or the settlor under a trust has not nominated a custodian under R.S. 46:38A-6, or all persons so nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under R.S. 46:38A-19.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-12 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-12 - Other transfers by personal representative or trustee

46:38A-12. Other transfers by personal representative or trustee  Subject to R.S. 46:38A-14, a personal representative or a trustee may, pursuant to R.S. 46:38A-19, make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor, in the absence of a will or under a will or a trust that does not contain an authorization to do so.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-13 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-13 - Transfers by a guardian

46:38A-13. Transfers by a guardian  Subject to R.S. 46:38A-14, a guardian of a minor may, pursuant to R.S. 46:38A-19, make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-14 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-14 - Conditions under which certain transfers may be made by a personal representative, trustee or guardian

46:38A-14. Conditions under which certain transfers may be made by a personal representative, trustee or guardian  A transfer may be made under R.S. 46:38A-12 or R.S. 46:38A-13 only if:  a. The personal representative, trustee or guardian considers the transfer to be in the best interest of the minor;  b. The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, other governing instrument or law; and  c. The transfer is authorized by the court if it exceeds $10,000.00 in value.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-15 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-15 - Transfer by obligor

46:38A-15. Transfer by obligor  Subject to R.S. 46:38A-16 and R.S. 46:38A-17, a person not subject to R.S. 46:38A-9 through R.S. 46:38A-11, or R.S. 46:38A-12 through R.S. 46:38A-14, who holds property of or owes a liquidated debt to a minor not having a guardian may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to R.S. 46:38A-19.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-16 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-16 - Transfer by obligor; custodian nominated

46:38A-16. Transfer by obligor; custodian nominated  If a person having the right to do so under R.S. 46:38A-6 has nominated a custodian under that section to receive custodial property under R.S. 46:38A-15, the transfer shall be made to that person.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-17 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-17 - Transfer by obligor; custodian not nominated or dead, etc.

46:38A-17. Transfer by obligor; custodian not nominated or dead, etc.  If a custodian has not been nominated under R.S. 46:38A-6, or all persons so nominated as custodian to receive custodial property under R.S. 46:38A-15 die before the transfer or are unable, decline, or are ineligible to serve, a transfer under R.S. 46:38A-15 may be made to an adult member of the minor's family or to a trust company unless the property exceeds $10,000.00 in value.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-18 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-18 - Receipt for custodial property

46:38A-18. Receipt for custodial property  A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this chapter.  L. 1987, c. 18, s. 1.
NJ Rev Stat § 46:38A-20 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-20 - Form of instrument to make certain transfers

46:38A-20. Form of instrument to make certain transfers  An instrument in the following form satisfies the requirements of paragraph (2) of subsection a. and subsection g. of R.S. 46:38A-19:  "Transfer Under the New Jersey Uniform Transfers to Minors Act I, ............................. (name of transferor or name and representative capacity if a fiduciary) hereby transfer to ....................... (name of custodian), as custodian for ........................ (name of minor) under the New Jersey Uniform Transfers to Minors Act, the following: (insert a description of the custodial property sufficient to identify it).  ated: ............................................................. .................................................................... (Signature) .......................... (name of custodian) acknowledges receipt of the property described above as custodian for the minor named above under the New Jersey Uniform Transfers to Minors Act.  Dated: ............................................................. .................................................................... (Signature of Custodian)" Source: New. P.L. 1987, c. 18, s.1..
NJ Rev Stat § 46:38A-21 (2021)
2021 New Jersey Revised Statutes|Title 46 - Property|Section 46:38A-21 - Control of custodial property

46:38A-21. Control of custodial property  A transferor shall place the custodian in control of the custodial property as soon as practical.  L. 1987, c. 18, s. 1.