Uniform Transfers To Minors Act Utma


Definition of "Uniform transfers to minors act (utma)"

Hovick and Lina
Hovick and Lina ONE Real Estate

Act in which a life insurance company is permitted to transfer the death benefit from the policy to the custodian of a minor beneficiary provided the beneficiary designation has specifically nominated the custodian to receive the death benefit on behalf of the minor.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Insurance Marketplace Standards Association Principle 6

Rule that provides four requirements for monitoring the independent agent distribution system: The insurance company must be involved in the training ...

Enrolled Actuary

Same as term Actuary: mathematician in the insurance field. Actuaries conduct various statistical studies; construct morbidity and mortality tables; c ...

Occupational Classification

Classification of occupations according to the degree of risk inherent in that occupation. ...

Guaranteed Investment Contract (gic)

Institutional investment sold by life insurance companies that guarantees principal and offers withdrawal flexibility. This conservative investment, w ...

Depositors Forgery Insurance

Coverage provided for individuals or businesses for loss due to forgery or alteration of such financial instruments as notes, checks, drafts, and prom ...

Regional Office

Branch office of an insurance company's home office that markets, underwrites, and services the company's lines of business within a specified geograp ...

Popular Real Estate FAQ

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

How is Square Footage Determined? 10 Real Estate Tips for Homebuyers What is the Best Time of Year to Buy a Home? 3 Reasons Why Now Is The Perfect Time To Sell Your Home 6 Reasons you are not selling properties

FAQ

What is an index? What is a point? What is commission? What is a loan origination fee? What is a mortgagor?