{"data":{"id":"us-ny/n.y.-estates-powers-trusts-law-7-6.7","jurisdiction":"us-ny","citation":"N.Y. Estates, Powers \u0026 Trusts Law § 7-6.7","heading":"Transfer by obligor","body":"§ 7-6.7 Transfer by obligor\n  (a) Subject to paragraphs (b) and (c), a person not subject to 7-6.5\nor 7-6.6 who holds property of or owes a liquidated debt to a minor not\nhaving a guardian may make an irrevocable transfer to a custodian for\nthe benefit of the minor pursuant to 7-6.9.\n  (b) If a person having the right to do so under 7-6.3 has nominated a\ncustodian under that section to receive the custodial property, the\ntransfer must be made to that person.\n  (c) If no custodian has been nominated under 7-6.3, or all persons so\nnominated as custodian die before the transfer or are unable, decline,\nor are ineligible to serve, a transfer under this section may be made to\nan adult member of the minor's family, unless the property exceeds fifty\nthousand dollars in value, or to a trust company.","path":["Estates, Powers \u0026 Trusts Law","Article 7. Trusts","Part 6. Uniform Transfers to Minors Act"],"source_url":"https://legislation.nysenate.gov/api/3/laws/EPT/7-6.7","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"784012e5f1b006afa3f3fb2b29852f978b57b27ee68a657d22534678e2f04c95","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-estates-powers-trusts-law-7-6.6","next":"us-ny/n.y.-estates-powers-trusts-law-7-6.8"},"notice":"GroundRules: Original legal text. Not legal advice."}