New Jersey Statutes 46:38A-8. Transfer by gift or exercise of power of appointment
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Terms Used In New Jersey Statutes 46:38A-8
- Custodian: means a person so designated under R. See New Jersey Statutes 46:38A-2
- 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 an individual who has not attained the age of 21 years. See New Jersey Statutes 46:38A-2
- Person: means an individual, corporation, organization, or other legal entity. See New Jersey Statutes 46:38A-2
- Transfer: means a transaction that creates custodial property under R. See New Jersey Statutes 46:38A-2
A person may, pursuant to R.S. 46:38A-19, 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.
L. 1987, c. 18, s. 1.