N.Y. Est. Powers & Trusts Law § 7-6.17

§ 7-6.17 Liability to third persons\n (a) A claim based on (1) a contract entered into by a custodian acting\nin a custodial capacity, (2) an obligation arising from the ownership or\ncontrol of custodial property, or (3) a tort committed during the\ncustodianship, may be asserted against the custodial property by\nproceeding against the custodian in the custodial capacity, whether or\nnot the custodian or the minor is personally liable therefor.\n (b) A custodian is not personally liable:\n (1) on a contract properly entered into in the custodial capacity\nunless the custodian fails to reveal that capacity and to identify the\ncustodianship in the contract; or\n (2) for an obligation arising from control of custodial property or\nfor a tort committed during the custodianship unless the custodian is\npersonally at fault.\n (c) A minor is not personally liable for an obligation arising from\nownership of custodial property or for a tort committed during the\ncustodianship unless the minor is personally at fault.\n