Sec. 21. Termination of Custodianship.

153 words·~1 min read·/il/chapter-760/act-20/21

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The custodian shall transfer in an appropriate manner the custodial property (to the extent that it has not been used pursuant to this Act) to the minor or to the minor's estate upon the earlier of:

(1)the minor's attainment of 21 years of age with respect to custodial property transferred under Section 5 or 6;

(2)the minor's attainment of majority under the laws of this State other than this Act with respect to custodial property transferred under Section 7 or 8; or

(3)the minor's death.

(b)To the extent the custodial property is real property or an interest in real property, no conveyance or delivery to the minor or to the minor's estate is necessary to terminate the powers or rights of the custodian upon the minor's attainment of age 21 or 18 years, as the case may be, or upon the minor's death.