Sections
§ 4501 Definitions 12
§ 4502 Scope and jurisdiction 12
§ 4503 Nomination of custodian 12
§ 4504 Transfer by gift or exercise of power of appointment 12
§ 4505 Transfer authorized by will or trust 12
§ 4506 Other transfer by fiduciary 12
§ 4507 Transfer by obligor 12
§ 4508 Receipt for custodial property 12
§ 4509 Manner of creating custodial property and effecting transfer; … 12
§ 4510 Single custodianship 12
§ 4511 Validity and effect of transfer 12
§ 4512 Care of custodial property 12
§ 4513 Powers of custodian 12
§ 4514 Use of custodial property 12
§ 4515 Custodian’s expenses, compensation and bond 12
§ 4516 Exemption of third person from liability 12
§ 4517 Liability to third persons 12
§ 4518 Renunciation, resignation, death or removal of custodian; designation … 12
§ 4519 Accounting by and determination of liability of custodian 12
§ 4520 Termination of custodianship 12
§ 4521 Applicability 12
§ 4522 Effect on existing custodianships 12
§ 4523 Short title 12
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Terms Used In Delaware Code > Title 12 > Chapter 45 - Delaware Uniform Transfers to Minors Act

  • Adult: means an individual who has attained 18 years of age. See Delaware Code Title 12 Sec. 39A-101
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
  • Decedent: A deceased person.
  • Executor: A male person named in a will to carry out the decedent
  • Fiduciary: A trustee, executor, or administrator.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Guardian: is a "guardian of the person" as that term is used in this title. See Delaware Code Title 12 Sec. 39A-101
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Party: means the respondent, petitioner, guardian, conservator, or any other person allowed by the Court to participate in a guardianship or protective proceeding. See Delaware Code Title 12 Sec. 39A-101
  • Person who is incapacitated: shall mean a "person with a disability" as that term is defined in § 3901(a)(2) of this title. See Delaware Code Title 12 Sec. 39A-101
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Delaware Code Title 12 Sec. 39A-101
  • Service of process: The service of writs or summonses to the appropriate party.
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 39A-101
  • Statute: A law passed by a legislature.
  • Testator: A male person who leaves a will at death.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302