ORS 126.872
Delayed transfer of custodial property to beneficiary


(1)

Except as provided in this section, a person making a transfer to a custodian under ORS 126.816 (Irrevocable gifts or exercise of power of appointment) or 126.819 (Irrevocable transfer by personal representative or trustee to custodian) may provide for a delayed transfer of the custodial property to the beneficiary at a specific time after the beneficiary attains the age of 21 years and:

(a)

Before the beneficiary attains the age of 25 years; or

(b)

The date on which the beneficiary attains the age of 25 years.

(2)

If the person making the transfer to the custodian under ORS 126.816 (Irrevocable gifts or exercise of power of appointment) or 126.819 (Irrevocable transfer by personal representative or trustee to custodian) specifies no time for the transfer of the custodial property to the beneficiary, the custodian shall transfer the custodial property to the beneficiary on the date that the beneficiary attains the age of 21 years.

(3)

A personal representative or trustee making a transfer to a custodian under ORS 126.819 (Irrevocable transfer by personal representative or trustee to custodian) may provide for a delayed transfer of the custodial property pursuant to this section only if the governing will or trust directs that the custodial property be transferred within the time specified by subsection (1) of this section. The transfer to the custodian must provide that the custodial property be transferred to the beneficiary at the age specified in the governing will or trust.

(4)

A transfer to a custodian under ORS 126.816 (Irrevocable gifts or exercise of power of appointment) or 126.819 (Irrevocable transfer by personal representative or trustee to custodian) is not invalid if the transfer provides that the custodial property be transferred to the beneficiary after the beneficiary attains the age of 25 years. If an otherwise valid transfer provides that the custodial property be transferred to the beneficiary after the beneficiary attains the age of 25 years, the custodial property must be transferred to the beneficiary on the date that the beneficiary attains the age of 25 years. [2001 c.244 §2; 2005 c.349 §16]

Source: Section 126.872 — Delayed transfer of custodial property to beneficiary, https://www.­oregonlegislature.­gov/bills_laws/ors/ors126.­html.

126.700
Payment or delivery for benefit of minor
126.725
Settlement agreement on behalf of minor
126.730
Payment of moneys to minor pursuant to judgment
126.735
Legislative findings
126.805
Definitions for ORS 126.805 to 126.886
126.809
Applicability of ORS 126.805 to 126.886
126.812
Nomination of custodian
126.816
Irrevocable gifts or exercise of power of appointment
126.819
Irrevocable transfer by personal representative or trustee to custodian
126.822
Transfer to custodian in absence of authorization
126.826
Irrevocable transfer by person holding property of or owing liquidated debt to minor
126.829
Written acknowledgment of delivery as receipt
126.832
Creation and transfer of custodial property
126.836
Limitations on custodianship
126.839
Validity of transfer
126.842
Duties of custodian
126.846
Rights, powers and authority of custodian
126.849
Payments to and expenditures for beneficiary
126.852
Reimbursement to custodian for reasonable expenses
126.857
Third person’s duties in dealing with custodian
126.859
Claims against custodial property
126.862
Refusal to serve as custodian
126.866
Petition for accounting by custodian, determination of responsibility
126.869
Time of transfer of custodial property to beneficiary or beneficiary’s estate
126.872
Delayed transfer of custodial property to beneficiary
126.875
Accounting by custodian
126.877
Applicability of ORS 126.805 to 126.886 to transfers made after January 1, 1986
126.879
Validation of transfer made before January 1, 1986
126.882
Application and construction of ORS 126.805 to 126.886
126.886
Short title
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