Custodial property 2025

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The document outlines the procedures for creating custodial property and transferring assets under the District of Columbia Uniform Transfers to Minors Act. It specifies various methods for transferring different types of assets, including uncertificated and certificated securities, money, insurance policies, real property interests, and other properties, all requiring specific wording to designate a custodian for a minor.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the name of the minor in the designated field, ensuring accuracy for legal purposes.
Select the type of custodial property you are transferring, such as an uncertificated security or a certificated security, and follow the prompts to provide necessary details.
For financial accounts, input the broker or institution's information along with the account number where funds will be credited.
If applicable, include details regarding any life insurance policies or annuities, ensuring that they are registered correctly as custodial property.
Review all entries for completeness and accuracy before finalizing your document. Utilize our platform’s editing tools to make any necessary adjustments.

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What is a property custodian?

The Property Custodian is a designated individual who has the authority and responsibility for the immediate physical custody of all personal property under their control and within their custodial area.

What is the meaning of custodial property?

Custodial property means property transferred to a custodian for a minor under the provisions of. View Source. Based on 23 documents.

Why does custodial mean?

A custodial parent is the one who has primary physical custody of the child. That means the child lives with this parent most of the time. The custodial parent takes on many day-to-day responsibilities, like making sure the child gets to school, eats well, and stays healthy.

What does custodian of property mean?

Under the Uniform Transfers to Minors Act (UTMA) and Uniform Gifts to Minors Act (UGMA), a custodian is a person named to manage property left or given to a child under the terms of either of those Acts. The custodian manages the property until the child docHubes the age specified by state law - 21, in most states.

What does custodial property mean?

Custodial property is borrower-owned property which has been abandoned. REO is Agency-owned property to which the Agency has acquired title, either as a result of foreclosure or conveyance by deed in lieu of foreclosure. This chapter outlines the requirements for management of each type of property.

What is the meaning of custodial?

/kəsˈtoʊdiəl/ /kəsˈtʌʊdiəl/ Someone whose job or task is custodial is supposed to take care of you. A babysitters job is custodial. A guardian or caregiver of any kind has a custodial duty he or she supervises and protects another person, usually a child.

Custodial property 2025

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