reglab/housing_qa huggingface dataset:
MN Stat § 527.35 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.35 — Custodian's Expenses, Compensation, And Bond.

527.35 CUSTODIAN'S EXPENSES, COMPENSATION, AND BOND. (a) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties. (b) Except for one who is a transferor under section 527.24, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year. (c) Except as provided in section 527.38, paragraph (f), a custodian need not give a bond. History:   1985 c 221 s 15
MN Stat § 527.36 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.36 — Exemption Of Third Person From Liability.

527.36 EXEMPTION OF THIRD PERSON FROM LIABILITY. A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining: (1) the validity of the purported custodian's designation; (2) the propriety of, or the authority under this chapter for, any act of the purported custodian; (3) the validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or (4) the propriety of the application of any property of the minor delivered to the purported custodian. History:   1985 c 221 s 16
MN Stat § 527.37 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.37 — Liability To Third Persons.

527.37 LIABILITY TO THIRD PERSONS. (a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership or control of custodial property, or (iii) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable therefor. (b) A custodian is not personally liable: (1) on a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or (2) for an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault. (c) A minor is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault. History:   1985 c 221 s 17
MN Stat § 527.39 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.39 — Accounting By And Determination Of Liability Of Custodian.

527.39 ACCOUNTING BY AND DETERMINATION OF LIABILITY OF CUSTODIAN. (a) A minor who has attained the age of 14 years, the minor's guardian or legal representative, an adult member of the minor's family, a transferor, or a transferor's legal representative may petition the court (i) for an accounting by the custodian or the custodian's legal representative; or (ii) for a determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property unless the responsibility has been adjudicated in an action under section 527.37 to which the minor or the minor's legal representative was a party. (b) A successor custodian may petition the court for an accounting by the predecessor custodian. (c) The court, in a proceeding under this chapter or in any other proceeding, may require or permit the custodian or the custodian's legal representative to account. (d) If a custodian is removed under section 527.38, paragraph (f), the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property. History:  1985 c 221 s 19; 2005 c 10 art 4 s 26
MN Stat § 527.40 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.40 — Transfer Upon Termination Of Custodianship.

527.40 TRANSFER UPON TERMINATION OF CUSTODIANSHIP. Subdivision 1. Terminating events. The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of the following terminating events: (1) the minor's attainment of 21 years of age with respect to custodial property transferred under section 527.24, 527.25, 527.26, or 527.27; or (2) the minor's death. Subd. 2. Transfer. (a) Upon the date of the applicable terminating event pursuant to subdivision 1, if (1) there is no custodian then serving or (2) no court proceeding is pending and the custodian fails to transfer the custodial property to the minor or the minor's estate within 90 days of that date, then the minor or the minor's personal representative may execute an affidavit setting forth the date of the terminating event and facts that show that the terminating event has occurred. The person in possession of the custodial property must transfer to the minor or the minor's personal representative the custodial property when presented with the executed affidavit and a certified copy of the minor's birth certificate or, in the case of a deceased minor, a certified copy of the minor's death certificate. (b) The affidavit and documentation under paragraph (a) are conclusive proof for any party relying on the affidavit of the occurrence of the applicable terminating event pursuant to subdivision 1 and the right of the minor or the minor's estate to receive the custodial property outright. Any person in possession of the custodial property that transfers assets to the minor or the minor's estate pursuant to this subdivision shall not be liable to any person for the transfer. History:  1985 c 221 s 20; 2020 c 86 art 2 s 3
MN Stat § 527.405 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.405 — Conveyance By Custodian.

527.405 CONVEYANCE BY CUSTODIAN. Subdivision 1. Affidavit of custodian. In support of a real property transaction where an interest in real property is held in a custodianship, a custodian shall furnish to the grantee or other party to the transaction an affidavit attesting that: (1) the custodian has not resigned or been removed prior to executing the conveyance; and (2) the custodianship has not terminated, or if the custodianship has terminated that the conveyance is to the minor or to the personal representative of the minor's estate. Subd. 2. Form of affidavit. An affidavit under this section must be substantially in the following form: AFFIDAVIT OF CUSTODIAN State of Minnesota County of............................. ........., being first duly sworn on oath says, that: 1. Affiant was appointed or designated as custodian in the document dated ....... and filed for record ....... as Document No. ...., (or in book .. of page ..) in the office of the (County Recorder) (Registrar of Titles) of ..... County, Minnesota (being the document which originally conveyed the real estate to the custodian). 2. Affiant is the grantor custodian for the minor in the document dated ..., conveying to .......... an interest in the real property in ..... County, Minnesota, legally described as: (insert legal description here) 3. The name of the minor is .......................... 4. The custodianship (check one) ....... has not terminated prior to the date of the document described in paragraph 2 above (or) ....... has terminated and the conveyance is to the minor or to the personal representative of the minor's estate. 5. Affiant's address is: ........................ 6. Affiant has not resigned and does not have actual knowledge of affiant's removal as custodian. Affiant knows the matters herein stated are true and makes this affidavit for the purpose of inducing the passing of title to the real property. ........................................ Affiant Subscribed and sworn to before me this day of ...., 20.. ........................................ Notary Public This instrument was drafted by .......................... Subd. 3. Effect of affidavit. An affidavit by a custodian under this section is conclusive proof that the custodian has not resigned or been removed as custodian prior to executing the conveyance and that the custodianship has not terminated, or that if the custodianship has terminated, the conveyance is to the minor or to the personal representative of the minor's estate. However, the affidavit is not conclusive as to a party dealing directly with the custodian who has actual knowledge that the custodian has resigned or been removed or that the custodianship has terminated and the conveyance is not to the minor or the personal representative of the minor's estate. History:   2002 c 403 s 5
MN Stat § 527.41 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.41 — Applicability.

527.41 APPLICABILITY. Sections 527.21 to 527.40 apply to a transfer within the scope of section 527.22 made after January 1, 1986, if: (1) the transfer purports to have been made under Minnesota Statutes 1984, sections 527.01 to 527.11; or (2) the instrument by which the transfer purports to have been made uses in substance the designation "as custodian under the Uniform Gifts to Minors Act" or "as custodian under the Uniform Transfers to Minors Act" of any other state, and the application of sections 527.21 to 527.40 is necessary to validate the transfer. History:  1985 c 221 s 21; 1Sp1986 c 3 art 1 s 60
MN Stat § 527.42 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.42 — Effect On Existing Custodianships.

527.42 EFFECT ON EXISTING CUSTODIANSHIPS. Section 527.40, subdivision 1, does not apply to custodial property transferred under section 527.26 or 527.27 before May 17, 2020. For custodial property transferred under section 527.26 or 527.27 before May 17, 2020, the custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor's estate upon the earlier of the following terminating events: (1) the minor's attainment of 18 years of age or (2) the minor's death. History:  1985 c 221 s 22; 1Sp1986 c 3 art 1 s 61; 2020 c 86 art 2 s 4
MN Stat § 527.43 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.43 — Savings Provision.

527.43 SAVINGS PROVISION. To the extent that sections 527.21 to 527.40, by virtue of section 527.42, paragraph (b), do not apply to transfers made in a manner prescribed in Minnesota Statutes 1984, sections 527.01 to 527.11 or to the powers, duties, and immunities conferred by transfers in that manner upon custodians and persons dealing with custodians, the repeal of Minnesota Statutes 1984, sections 527.01 to 527.11 does not affect those transfers or those powers, duties, and immunities. History:  1985 c 221 s 23; 1Sp1986 c 3 art 1 s 62
MN Stat § 527.44 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 527 — Uniform Transfers To Minors Act|Section 527.44 — Short Title.

527.44 SHORT TITLE. This chapter may be cited as the "Minnesota Uniform Transfers to Minors Act." History:   1985 c 221 s 24
MN Stat § 529.01 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 529 — Uniform Custodial Trust Act|Section 529.01 — Definitions.

529.01 DEFINITIONS. As used in sections 529.01 to 529.19: (1) "Adult" means an individual who is at least 18 years of age. (2) "Beneficiary" means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual's use and benefit under sections 529.01 to 529.19. (3) "Conservator" means a person appointed or qualified by a court to manage the estate of an individual or a person legally authorized to perform substantially the same functions. (4) "Court" means the district court of this state. (5) "Custodial trust property" means an interest in property transferred to or held under a declaration of trust by a custodial trustee under sections 529.01 to 529.19 and the income from and proceeds of that interest. (6) "Custodial trustee" means a person designated as trustee of a custodial trust under sections 529.01 to 529.19 or a substitute or successor to the person designated. (7) "Guardian" means a person appointed or qualified by a court as a guardian of an individual, including a limited guardian, but not a person who is only a guardian ad litem. (8) "Holder of the beneficiary's power of attorney" means a person who is a holder of the beneficiary's unrevoked power of attorney if the document creating the power of attorney grants powers similar or identical to those defined as "beneficiary transactions" in section 523.24, subdivision 7. (9) "Incapacitated" means lacking the ability to manage property and business affairs effectively by reason of mental illness, developmental disability, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority, or other disabling cause. (10) "Legal representative" means a personal representative or conservator. (11) "Member of the beneficiary's family" means a beneficiary's spouse, descendant, stepchild, parent, stepparent, grandparent, brother, sister, uncle, or aunt, whether of the whole or half blood or by adoption. (12) "Person" means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity. (13) "Personal representative" means an executor, administrator, or special administrator of a decedent's estate, a person legally authorized to perform substantially the same functions, or a successor to any of them. (14) "State" means a state, territory, or possession of the United States, the District of Columbia, or the commonwealth of Puerto Rico. (15) "Transferor" means a person who creates a custodial trust by transfer or declaration. (16) "Trust company" means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. History:  1990 c 476 s 1; 2005 c 56 s 1
MN Stat § 529.02 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 529 — Uniform Custodial Trust Act|Section 529.02 — Custodial Trust; General.

529.02 CUSTODIAL TRUST; GENERAL. (a) A person may create a custodial trust of property by a written transfer of the property to another person, evidenced by registration or by other instrument of transfer, executed in any lawful manner, naming as beneficiary, an individual who may be the transferor, in which the transferee is designated, in substance, as custodial trustee under the Minnesota Uniform Custodial Trust Act. (b) A person may create a custodial trust of property by a written declaration, evidenced by registration of the property or by other instrument of declaration executed in any lawful manner, describing the property and naming as beneficiary an individual other than the declarant, in which the declarant as title holder is designated, in substance, as custodial trustee under the Minnesota Uniform Custodial Trust Act. A registration or other declaration of trust for the sole benefit of the declarant is not a custodial trust under sections 529.01 to 529.19. (c) Title to custodial trust property is in the custodial trustee and the beneficial interest is in the beneficiary. (d) Except as provided in subsection (e), a transferor may not terminate a custodial trust. (e) The beneficiary, if not incapacitated, or the holder of the beneficiary's power of attorney, may terminate a custodial trust by delivering to the custodial trustee a writing signed by the beneficiary or holder of the beneficiary's power of attorney declaring the termination. If not previously terminated, the custodial trust terminates on the death of the beneficiary. (f) Any person may augment existing custodial trust property by the addition of other property pursuant to sections 529.01 to 529.19. (g) The transferor may designate, or authorize the designation of, a successor custodial trustee in the trust instrument. (h) Sections 529.01 to 529.19 do not displace or restrict other means of creating trusts. A trust whose terms do not conform to sections 529.01 to 529.19 may be enforceable according to its terms under other law. History:   1990 c 476 s 2
MN Stat § 529.03 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 529 — Uniform Custodial Trust Act|Section 529.03 — Custodial Trustee For Future Payment Or Transfer.

529.03 CUSTODIAL TRUSTEE FOR FUTURE PAYMENT OR TRANSFER. (a) A person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by: "as custodial trustee for ......... (name of beneficiary) under the Minnesota Uniform Custodial Trust Act." (b) Persons may be designated as substitute or successor custodial trustees to whom the property must be paid or transferred in the order named if the first designated custodial trustee is unable or unwilling to serve. (c) A designation under this section may be made in a will, a trust, a deed, a multiple-party account, an insurance policy, an instrument exercising a power of appointment, or a writing designating a beneficiary of contractual rights. Otherwise, to be effective, the designation must be registered with or delivered to the fiduciary, payor, issuer, or obligor of the future right. History:   1990 c 476 s 3
MN Stat § 529.04 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 529 — Uniform Custodial Trust Act|Section 529.04 — Form And Effect Of Receipt And Acceptance By Custodial Trustee, Jurisdiction.

529.04 FORM AND EFFECT OF RECEIPT AND ACCEPTANCE BY CUSTODIAL TRUSTEE, JURISDICTION. (a) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under sections 529.01 to 529.19 upon the custodial trustee's acceptance, express or implied, of the custodial trust property. (b) The custodial trustee's acceptance may be evidenced by a writing stating in substance: CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE I, ........ (name of custodial trustee) acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ....... (name of beneficiary) under the Minnesota Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Minnesota Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ........................      Dated: .     .    (signature of custodial trustee)   (c) Upon accepting custodial trust property, a person designated as custodial trustee under sections 529.01 to 529.19 is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust. History:   1990 c 476 s 4
MN Stat § 529.05 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 529 — Uniform Custodial Trust Act|Section 529.05 — Multiple Beneficiaries; Separate Custodial Trusts; Survivorship.

529.05 MULTIPLE BENEFICIARIES; SEPARATE CUSTODIAL TRUSTS; SURVIVORSHIP. (a) Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of husband and wife, for whom survivorship is presumed, a right of survivorship does not exist unless the instrument creating the custodial trust specifically provides for survivorship or survivorship is required as to community or marital property. (b) Custodial trust property held under sections 529.01 to 529.19 by the same custodial trustee for the use and benefit of the same beneficiary may be administered as a single custodial trust. (c) A custodial trustee of custodial trust property held for more than one beneficiary shall separately account to each beneficiary pursuant to sections 529.06 and 529.14 for the administration of the custodial trust. History:   1990 c 476 s 5
MN Stat § 529.06 (2021)
2021 Minnesota Statutes|Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts|Chapter 529 — Uniform Custodial Trust Act|Section 529.06 — General Duties Of Custodial Trustee.

529.06 GENERAL DUTIES OF CUSTODIAL TRUSTEE. (a) If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property. (b) If the beneficiary is not incapacitated, a custodial trustee shall follow the directions of the beneficiary in the management, control, investment, or retention of the custodial trust property. In the absence of effective contrary direction by the beneficiary while not incapacitated, the custodial trustee shall observe the standard of care set forth in section 501C.0901. However, a custodial trustee, in the custodial trustee's discretion, may retain any custodial trust property received from the transferor. (c) Subject to subsection (b), a custodial trustee shall take control of and collect, hold, manage, invest, and reinvest custodial trust property. (d) A custodial trustee at all times shall keep custodial trust property of which the custodial trustee has control, separate from all other property in a manner sufficient to identify it clearly as custodial trust property of the beneficiary. Custodial trust property, the title to which is subject to recordation, is so identified if an appropriate instrument so identifying the property is recorded, and custodial trust property subject to registration is so identified if it is registered, or held in an account in the name of the custodial trustee, designated in substance: "as custodial trustee for ........ (name of beneficiary) under the Minnesota Uniform Custodial Trust Act." (e) A custodial trustee shall keep records of all transactions with respect to custodial trust property, including information necessary for the preparation of tax returns, and shall make the records and information available at reasonable times to the beneficiary or legal representative of the beneficiary. History:  1990 c 476 s 6; 1996 c 314 s 7; 2015 c 5 art 15 s 15