Arizona Laws 14-7654. Transfer by gift or exercise of power of appointment
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A person may 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 pursuant to section 14-7659.
Terms Used In Arizona Laws 14-7654
- Custodian: means a person designated pursuant to section 14-7659 or a successor or substitute custodian designated pursuant to section 14-7668. See Arizona Laws 14-7651
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Minor: means a person under the age of twenty-one years. See Arizona Laws 14-7651
- Person: means an individual, corporation, organization or other legal entity. See Arizona Laws 14-7651
- Transfer: means a transaction that creates custodial property pursuant to section 14-7659. See Arizona Laws 14-7651