Under UTMA, who is the owner of the minor's property?

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Multiple Choice

Under UTMA, who is the owner of the minor's property?

Explanation:
Under UTMA, ownership vests in the minor. The custodian holds and manages the property for the minor’s benefit in a fiduciary capacity, but does not own it. The guardian or a trust company acting as custodian is just the caretaker, not the owner. The state is not the owner. When the minor reaches the age of majority (often 18 or 21, depending on the state), the property becomes the minor’s outright ownership.

Under UTMA, ownership vests in the minor. The custodian holds and manages the property for the minor’s benefit in a fiduciary capacity, but does not own it. The guardian or a trust company acting as custodian is just the caretaker, not the owner. The state is not the owner. When the minor reaches the age of majority (often 18 or 21, depending on the state), the property becomes the minor’s outright ownership.

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