Code of Virginia § 64.2-1919. Termination of custodianship.
248 words·~1 min read·
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A. Except as provided in subsection B, the custodian shall transfer the custodial property to the minor or to the minor's estate in an appropriate manner upon the earlier of:
1. The minor's attainment of 18 years of age or if the transfer was made as provided in subsection D or E of § 64.2-1908 , the minor's attainment of 21 or 25 years of age, as applicable; or
2. The minor's death.
B. If the custodial property is transferred by irrevocable gift or the exercise of an inter vivos general power of appointment in the manner provided in subsection E of § 64.2-1908 , for delivery, conveyance, or payment to the minor upon the minor's attaining the age of 25 years, the custodian shall nevertheless transfer the custodial property to the minor upon the minor's attaining the age of 21 years if the minor delivers a written request therefor to the custodian. A request under this subsection shall be valid only if it is delivered to the custodian during the period beginning 30 days before the date on which the minor attains the age of 21 years and ending 30 days after the later of
(i)the date on which the minor attains the age of 21 years or
(ii)the date on which the custodian delivers written notice to the minor of the minor's right to terminate the custodianship pursuant to this subsection.
1988, c. 516, § 31-56; 2012, c. 614 ; 2019, c. 527 .