Illinois Compiled Statutes
760 ILCS 20/12 (2026)
Validity and Effect of Transfer
✓ current as of May 2026
Find cases:
SyfertCases citing this section
IL-ILGAilga.gov
JustiaChapter on Justia
CornellLII Search
CasesGoogle Scholar
(760 ILCS 20/12)
(from Ch. 110 1/2, par. 262)
Sec. 12.
Validity and Effect of Transfer.
(a) The validity of a
transfer made in a manner prescribed
in this Act is not affected by:
(1) failure of the transferor to comply with Section 10(c) concerning
possession and control;
(2) designation of an ineligible custodian; or
(3) death or incapacity of a person nominated under Section 4 or
designated under Section 10 as custodian or the disclaimer of the office by that person.
(b) A transfer made pursuant to Section 10 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 Act, and
neither the minor nor the minor's representative has any right,
power, duty, or authority with respect to the custodial property except as
provided in this Act.
(c) By making a transfer, the transferor incorporates in the disposition
all the provisions of this Act 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 Act.
(Source: P.A. 84-1129.)
Notes of Decisions
Cited in 4
cases, 1996–2009 · leading case: In Re Marriage of Sanfratello, 913 N.E.2d 1077 (Ill. App. Ct. 2009).
In Re Marriage of Sanfratello, 913 N.E.2d 1077 (Ill. App. Ct. 2009). “Finally, Michael argues he could not have dissipated the children’s bank accounts because the accounts were not part of the marital estate.”
Dally v. Bank One, Chicago, N.A. (In Re Dally), 202 B.R. 724 (Bankr. N.D. Ill. 1996). “” 760 ILCS 20/12(b). The custodian has all rights, powers, and authority over the custodial property, but may only exercise those rights, powers, and authority in a custodial capacity.”
Pope v. First of Am., N. A., 699 N.E.2d 178 (Ill. App. Ct. 1998). “” 760 ILCS 20/12(b) (West 1996). Thus, the money in the trust account belonged to Ricky, not to Pope.”
Pope v. First of Am. (Ill. App. Ct. 1998). “" 760 ILCS 20/12(b) (West 1996). Thus, the money in the trust account belonged to Ricky, not to Pope.”
— 760 ILCS 20/12(b) — 4 cases
In Re Marriage of Sanfratello, 913 N.E.2d 1077 (Ill. App. Ct. 2009). “Finally, Michael argues he could not have dissipated the children’s bank accounts because the accounts were not part of the marital estate.”
Dally v. Bank One, Chicago, N.A. (In Re Dally), 202 B.R. 724 (Bankr. N.D. Ill. 1996). “” 760 ILCS 20/12(b). The custodian has all rights, powers, and authority over the custodial property, but may only exercise those rights, powers, and authority in a custodial capacity.”
Pope v. First of Am., N. A., 699 N.E.2d 178 (Ill. App. Ct. 1998). “” 760 ILCS 20/12(b) (West 1996). Thus, the money in the trust account belonged to Ricky, not to Pope.”
Pope v. First of Am. (Ill. App. Ct. 1998). “" 760 ILCS 20/12(b) (West 1996). Thus, the money in the trust account belonged to Ricky, not to Pope.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.
|