§ 5311. Validity and effect of transfer.
(a) Validity of transfer.--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 5309(c) (relating to manner of creating
custodial property and effecting transfer) 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 5309(a); or
(3) death or incapacity of a person nominated under section 5303 (relating to nomination
of custodian) or designated under section 5309 as custodian or the disclaimer of the
office by that person.
(b) Irrevocability of transfer.--A transfer made pursuant to section 5309 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) Incorporation of provisions of this chapter.--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.
Notes of Decisions
Sternlicht v. Sternlicht, 876 A.2d 904 (Pa. 2005).
· cites it 6× “20 Pa.C.S. § 5311(b). We agree with the Superior Court that the plain meaning of Section 5311(b) is that a transfer made into a PUTMA custodian account is irrevocable and the vesting of custodial property in the minor cannot be undone.”
Hanrahan, M. v. Bakker, J., 151 A.3d 195 (Pa. Super. Ct. 2016).
· cites it 2× “, at 737 ; 20 Pa.C.S. §5311(b). PUTMA provides: “[a] custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor .”
Harold C. Lampe, Jr V., 665 F.3d 506 (3rd Cir. 2011).
“” 20 Pa. Cons.Stat. Ann. § 5311(b) (West 2011); see 20 Pa.”
In Re Gumpher, 840 A.2d 318 (Pa. Super. Ct. 2003).
“20 Pa.C.S. § 5311(b). Regarding the custodian’s discretion in managing the account, PUTMA provides as follows: § 5314.”
Brooks, D. v. Brooks, G., 231 A.3d 1 (Pa. Super. Ct. 2020).
“20 Pa.C.S. § 5311(b). The custodian of the PUTMA account may only use the property for that minor’s benefit, and manages the minor’s property until she reaches the age of twenty-one, at which time the custodian must deliver the property and any proceeds to the beneficiary.”
— 20 Pa. Cons. Stat. § 5311(b) — 5 cases
Sternlicht v. Sternlicht, 876 A.2d 904 (Pa. 2005).
“20 Pa.C.S. § 5311(b). We agree with the Superior Court that the plain meaning of Section 5311(b) is that a transfer made into a PUTMA custodian account is irrevocable and the vesting of custodial property in the minor cannot be undone.”
Hanrahan, M. v. Bakker, J., 151 A.3d 195 (Pa. Super. Ct. 2016).
“, at 737 ; 20 Pa.C.S. §5311(b). PUTMA provides: “[a] custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor .”
Harold C. Lampe, Jr V., 665 F.3d 506 (3rd Cir. 2011).
“” 20 Pa. Cons.Stat. Ann. § 5311(b) (West 2011); see 20 Pa.”
In Re Gumpher, 840 A.2d 318 (Pa. Super. Ct. 2003).
“20 Pa.C.S. § 5311(b). Regarding the custodian’s discretion in managing the account, PUTMA provides as follows: § 5314.”
Brooks, D. v. Brooks, G., 231 A.3d 1 (Pa. Super. Ct. 2020).
“20 Pa.C.S. § 5311(b). The custodian of the PUTMA account may only use the property for that minor’s benefit, and manages the minor’s property until she reaches the age of twenty-one, at which time the custodian must deliver the property and any proceeds to the beneficiary.”
Annotations are extracted automatically from the opinions in the
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treatment. Dots show Syfertize treatment of the citing case itself.