404.450. Present transfer, effect.
109 words·~1 min read·
/mo/chapter-404/404-450A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
404.450. Present transfer, effect. — A present transfer of property to a personal custodian for a beneficiary, made by a transferor in the manner prescribed in subdivisions (1), (2),
(3)and
(5)of subsection 1 of section 404.540 , is irrevocable and indefeasibly vests ownership of the property in the beneficiary subject to the personal custodianship provided in sections 404.400 to 404.650 for the benefit of the beneficiary, and neither the beneficiary nor an incapacitated beneficiary's legal representative has any right, power, duty or authority with respect to the custodial property except as prescribed in sections 404.400 to 404.650 .
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(L. 1986 S.B. 651 § 3 subsec. 2)