{"data":{"id":"us-de/12-del.-c.-4507","jurisdiction":"us-de","citation":"12 Del. C. § 4507","heading":"Transfer by obligor.","body":"(a) Subject to subsections (b) and (c) of this section, a person not subject to § 4505 or § 4506 of this title who holds property of or owes a liquidated debt to a minor not having a guardian may make an irrevocable transfer to a custodian for the benefit of the minor pursuant to § 4509 of this title.\n(b) If a person having the right to do so under § 4503 of this title has nominated a custodian under that section to receive the custodial property, the transfer must be made to that person.\n(c) If no custodian has been nominated under § 4503 of this title, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, a transfer under this section may be made to an adult member of the minor’s family or to a trust company unless the property exceeds $50,000 in value or, if the property exceeds $50,000 in value, the custodian designated by the transferor is approved by the Court.\n(d) A transfer under subsection (a) may be made:\n(1) If the transferor considers the transfer to be in the best interest of the minor, which shall be presumed in the absence of contrary facts actually known to the transferor; and\n(2) If the property exceeds $50,000 in value, the custodian designated by the transferor is approved by the Court.\nIf a transfer is made in conformity with the preceding provisions of this section and § 4509 of this title, the transferor shall have no liability to the minor therefor, including any obligation to see to the application of the proceeds of such transfer.","path":["Title 12. Decedents’ Estates and Fiduciary Relations","Fiduciary Relations","CHAPTER 45. Delaware Uniform Transfers to Minors Act"],"source_url":"https://delcode.delaware.gov/title12/c045/index.html#4507","current_through":"2026-08-10 (85 Del. Laws, c. 421, 424)","vintage":"","retrieved_at":"2026-09-05T23:02:16Z","sha256":"d350bd3285e60d58460a3288d0f8fca6e5d7a6b94cc638dece51cc8f0d5f279e","source_id":"us-de","stale":true,"prev":"us-de/12-del.-c.-4506","next":"us-de/12-del.-c.-4508"},"notice":"GroundRules: Original legal text. Not legal advice."}