Liability to Third Persons

1. Law
2. Tennessee Code
3. Fiduciaries and Trust Estates
4. Tennessee Uniform Transfers to Minors Act
5. Liability to Third Persons

1. A claim based on:
   1. A contract entered into by a custodian acting in a custodial capacity;
   2. An obligation arising from the ownership or control of custodial property; or
   3. A tort committed during the custodianship;

      may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable therefor.

2. A custodian is not personally liable:
   1. On a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or
   2. For an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault.
3. A minor is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault.

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