§ 1 Definitions
§ 2 Scope and jurisdiction
§ 3 Nomination of custodian
§ 4 Transfer by gift or exercise of power of appointment
§ 5 Transfer authorized by will or trust
§ 6 Other transfer by fiduciary
§ 7 Transfer by obligor
§ 8 Receipt for custodial property
§ 9 Manner of creating custodial property and effecting transfer; designation of initial custodian; control
§ 10 Single custodianship
§ 11 Validity and effect of transfer
§ 12 Care of custodial property
§ 13 Powers of custodian
§ 14 Use of custodial property
§ 15 Custodian’s expenses, compensation, and bond
§ 16 Exemption of third person from liability
§ 17 Liability to third persons
§ 18 Renunciation, resignation, death, or removal of custodian; designation of successor custodian
§ 19 Accounting by and determination of liability of custodian
§ 20 Termination of custodianship
§ 21 Applicability
§ 22 Effect on existing custodianships
§ 23 Uniformity of application and construction
§ 24 Short title

Terms Used In Massachusetts General Laws > Chapter 201A - Uniform Transfers to Minors Act

  • 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.
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Executor: A male person named in a will to carry out the decedent
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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.
  • Personal property: All property that is not real property.
  • Probate: Proving a will
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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.
  • Trustee: A person or institution holding and administering property in trust.