31-53 - Liability to third persons. - Virginia Statutes

§ 31-53. Liability to third persons.

A claim based on (i) a contract entered into by a custodian acting in acustodial capacity, (ii) an obligation arising from the ownership or controlof custodial property, or (iii) a tort committed during the custodianship,may be asserted against the custodial property by proceeding against thecustodian in a custodial capacity, whether or not the custodian or the minoris personally liable therefor.

A custodian is not personally liable on a contract properly entered into inthe custodial capacity, unless the custodian fails to reveal that capacityand to identify the custodianship in the contract, or for an obligationarising from control of custodial property or for a tort committed during thecustodianship, unless the custodian is personally at fault.

A minor is not personally liable for an obligation arising from ownership ofcustodial property or for a tort committed during the custodianship unlessthe minor is personally at fault.

(1988, c. 516.)