ORS 126.839
Validity of transfer

(1)

The validity of a transfer made in a manner prescribed in ORS 126.805 (Definitions for ORS 126.805 to 126.886) to 126.886 (Short title) is not affected by:

(a)

Failure of the transferor to comply with ORS 126.832 (Creation and transfer of custodial property) (4) concerning possession and control;

(b)

Designation of an ineligible custodian, except designation of the transferor in the case of property for which the transferor is ineligible to serve as custodian under ORS 126.832 (Creation and transfer of custodial property) (1); or

(c)

Death or incapacity of a person nominated under ORS 126.812 (Nomination of custodian) or designated under ORS 126.832 (Creation and transfer of custodial property) as custodian or the disclaimer of the office by that person.

(2)

A transfer made pursuant to ORS 126.832 (Creation and transfer of custodial property) is irrevocable, and the custodial property is indefeasibly vested in the beneficiary, but the custodian has all the rights, powers, duties and authority provided in ORS 126.805 (Definitions for ORS 126.805 to 126.886) to 126.886 (Short title) and neither the beneficiary nor the beneficiary’s legal representative has any right, power, duty or authority with respect to the custodial property except as provided in ORS 126.805 (Definitions for ORS 126.805 to 126.886) to 126.886 (Short title).

(3)

By making a transfer, the transferor incorporates in the disposition all the provisions of ORS 126.805 (Definitions for ORS 126.805 to 126.886) to 126.886 (Short title) and grants to the custodian, and to any third person dealing with a person designated as custodian, the respective powers, rights and immunities provided in ORS 126.805 (Definitions for ORS 126.805 to 126.886) to 126.886 (Short title). [1985 c.665 §12; 2001 c.244 §5; 2005 c.349 §8]

Source: Section 126.839 — Validity of transfer, https://www.­oregonlegislature.­gov/bills_laws/ors/ors126.­html.

126.700
Payment or delivery for benefit of minor 126.725
Settlement agreement on behalf of minor 126.730
Payment of moneys to minor pursuant to judgment 126.735
Legislative findings 126.805
Definitions for ORS 126.805 to 126.886 126.809
Applicability of ORS 126.805 to 126.886 126.812
Nomination of custodian 126.816
Irrevocable gifts or exercise of power of appointment 126.819
Irrevocable transfer by personal representative or trustee to custodian 126.822
Transfer to custodian in absence of authorization 126.826
Irrevocable transfer by person holding property of or owing liquidated debt to minor 126.829
Written acknowledgment of delivery as receipt 126.832
Creation and transfer of custodial property 126.836
Limitations on custodianship 126.839
Validity of transfer 126.842
Duties of custodian 126.846
Rights, powers and authority of custodian 126.849
Payments to and expenditures for beneficiary 126.852
Reimbursement to custodian for reasonable expenses 126.857
Third person’s duties in dealing with custodian 126.859
Claims against custodial property 126.862
Refusal to serve as custodian 126.866
Petition for accounting by custodian, determination of responsibility 126.869
Time of transfer of custodial property to beneficiary or beneficiary’s estate 126.872
Delayed transfer of custodial property to beneficiary 126.875
Accounting by custodian 126.877
Applicability of ORS 126.805 to 126.886 to transfers made after January 1, 1986 126.879
Validation of transfer made before January 1, 1986 126.882
Application and construction of ORS 126.805 to 126.886 126.886
Short title
Green check means up to date. Up to date

Current through early 2024

§ 126.839’s source at oregon​.gov