Michigan Laws 554.528 – Transfer by irrevocable gift or power of appointment in custodian
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 554.528
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
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 13.