Most states allow minors to own property. To what extent they can exercise control over the property will vary by state.
No.
In the U.S. and Canada, minors cannot usually be held legally liable for a debt. Therefore a minor cannot get a Mortgage.
No. He must make the purchase through a legal guardian. A minor cannot enter a binding contract.
A minor cannot legally own property. Property can be held in trust for the minor until they reach the age of majority, usually 18.
A minor can own a vehicle in the state of Wisconsin, but under certain circumstances. The minor parents or guardian must sign a statement that consent the minor to purchase the motor vehicle and is ok with the purchase.
It doesn't matter if he's unlicensed or not, unlicensed persons can own motor vehicles. The question is, can a minor "own" property in your state? In most states minors cannot legally hold property in their own name, if they appear on the title to anything it must be as a co-owner with an adult.
No. Property can be held in trust for the minor until they reach the age of majority.
No. Although when making a decision of partitioning property or deciding who should retain such, the judge also considers which parent is to retain primary custody of the child(ren).
A minor cannot own real property. It could be held in a trust for the minor.
A minor cannot legally own property. Property can be held in trust for the minor until they reach the age of majority, usually 18.
A minor cannot legally own property. Property can be held in trust for the minor until they reach the age of majority, usually 18.
In fact, minors can own personal property although parents may exercise control or assert restrictions on the minor's use and possession of the property.
A minor can purchase a vehicle on their own. They may not be able to register it under their name depending on the state laws.
No. The minimum age for owning property in California is 18 because that is the legal age that you can execute a contract with another party. A minor child can be entitled to the ownership of property if the property is vested in a Trust with the child being the beneficiary of the trust.
A minor can own a vehicle in the state of Wisconsin, but under certain circumstances. The minor parents or guardian must sign a statement that consent the minor to purchase the motor vehicle and is ok with the purchase.
No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.
It doesn't matter if he's unlicensed or not, unlicensed persons can own motor vehicles. The question is, can a minor "own" property in your state? In most states minors cannot legally hold property in their own name, if they appear on the title to anything it must be as a co-owner with an adult.
No. Property can be held in trust for the minor until they reach the age of majority.
You can buy a house at any age if you have the cash to pay for it straight out. Many childhood actors own property across the US.To get a mortgage you would need to be at least 18 (or however old you need to be to enter into a legally binding contract in your country) and be able to show the bank that you could easily cover the monthly payments.Hope this helps!
No. Although when making a decision of partitioning property or deciding who should retain such, the judge also considers which parent is to retain primary custody of the child(ren).