_________________________, referred to as CUSTODIAN and _________________________, referred to as MINOR, agree:
CUSTODIAN has been acting in the capacity of custodian of property gifted to the MINOR under the _______________________________________.
MINOR has now reached the age of majority, and under the ______________________________ is entitled to possession of the property outright.
MINOR acknowledges receipt of the property so maintained by custodian, as follows:
with a value of $_______ (_________________________ & _________/100 dollars).
MINOR has had adequate opportunity to examine the records related to the custodianship, and has determined that the property has been properly maintained by CUSTODIAN as provided by the law, and therefore, CUSTODIAN is fully and completely discharged and shall have no further duties or responsibility herein.
_________________________ By Minor (former)
_________________________ By Custodian
Custodian, Release by Minor
This review list is provided to inform you about this document in question and assist you in its preparation. This Release is an important document for the Custodian to obtain from the former minor upon reaching their majority, normally 21. If the Custodian relationship extends until the minor reaches an older age, often 25, then the same document should be signed at the same time the property is turned over. The examination of property should precede the turnover, very much as in a real estate transaction.
This is an important agreement to have signed for the benefit of parents with their minor children so there are no later disputes about this issue, especially with families having trusts. In a very practical sense, it virtually eliminates the opportunity for this to be used as a wedge in later matters regarding estates or other issues.
1. Make multiple copies. Have a notary witness the transaction if possible.
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