404.450. Present transfer, effect. - Missouri Statutes

Present transfer, effect.

404.450. A present transfer of property to a personalcustodian for a beneficiary, made by a transferor in the mannerprescribed in subdivisions (1), (2), (3) and (5) of subsection 1of section 404.540, is irrevocable and indefeasibly vestsownership of the property in the beneficiary subject to thepersonal custodianship provided in sections 404.400 to 404.650for the benefit of the beneficiary, and neither the beneficiarynor an incapacitated beneficiary's legal representative has anyright, power, duty or authority with respect to the custodialproperty except as prescribed in sections 404.400 to 404.650.

(L. 1986 S.B. 651 § 3 subsec. 2)