Virginia Code 64.2-1901: Scope and jurisdiction
A. This chapter applies to any transfer that refers to the Uniform Transfers to Minors Act or this chapter in the designation under subsection A of § 64.2-1908 by which the transfer is made if, at the time of the transfer, the transferor, the minor, or the custodian is a resident of the Commonwealth or the custodial property is located in the Commonwealth. The custodianship so created remains subject to this chapter despite a subsequent change in residence of a transferor, the minor, or the custodian or the removal of custodial property from the Commonwealth.
Terms Used In Virginia Code 64.2-1901
- Custodial property: means (i) any interest in property transferred to a custodian under this chapter and (ii) the income from and proceeds of that interest in property. See Virginia Code 64.2-1900
- Custodian: means a person so designated under § 64. See Virginia Code 64.2-1900
- 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.
- Minor: means an individual who has not attained the age of 18 years. See Virginia Code 64.2-1900
- Person: means an individual, corporation, organization, or other legal entity. See Virginia Code 64.2-1900
- State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Virginia Code 64.2-1900
- Transfer: means a transaction that creates custodial property under § 64. See Virginia Code 64.2-1900
- Transferor: means a person who makes a transfer under this chapter. See Virginia Code 64.2-1900
B. A person designated as custodian under this chapter is subject to personal jurisdiction in the Commonwealth with respect to any matter relating to the custodianship.
C. A transfer that purports to be made and that is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act, or a substantially similar act of another state is governed by the law of the designated state and may be executed and is enforceable in the Commonwealth if, at the time of the transfer, the transferor, the minor, or the custodian is a resident of the designated state or the custodial property is located in the designated state.
1988, c. 516, § 31-38; 2012, c. 614.