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Anything younger than 18 is a minor. Until then they cannot contract or hold real property.
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoNo, a minor cannot hold title to real estate. The property will go into a trust for the benefit of the minor until they reach the age of majority.
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Can a minor hold the lien on real-estate property?
No, a minor can not. Someone would have to hold it in trust for the minor.
Who owns the title of the property?
Ownership of real estate is evidenced and accomplished by a deed. The person who transfers the property is called the grantor and the person who receives it is the grantee. In any deed, the grantee is the new owner. The owner of real estate is said to hold title to it.
What is the difference between a trustee and a custodian?
A custodian is always a person; one who has charge of something (a caretaker) of a minor child's estate or an absentee landlord's property. The custodian does not hold title to the property. A trustee is often an institution such as a bank, that holds legal title to a property in order to administer it for a beneficiary, or can be a member of a board elected or appointed to direct the funds and policy of an institution. [source: this information reprinted from Answers.Com]
Does real estate pass on to spouse after death of husband?
It might. If they hold title as joint tenants or by tenancy by the entirity, yes. If they hold title alone, no. Those properties held by person get transferred to the estate, and the estate must go through probate court.
Is a warrant required for the search of property belonging to a minor?
It depends on the state you're in. Most states and the feds would accept the parents' permission to search in lieu of a warrant, since most states do not allow minors to hold title to property.
What is a non-freehold estate?
In English Common Law less-than-freehold estates were the rights of tenants who leased real property. Those estates were considered personal property. A less than freehold estate has a predetermined limit of time. The most common in the modern era is a leasehold estate. A non-freehold estate involves possession but not ownership of property.
Can parents turn their estate into a corporation?
No, you cannot "turn an estate into a corporation". Any person can start a corporation and corporations can hold title to property. However, the parents must discuss their estate planning with an attorney with a good reputation who specializes in estate planning. It's a very specialized area of law and anyone with property should review their situation with a professional who is familiar with probate law, tax law and all the available options.
When husband dies and ex-wife is on deed as joint tenant with survivorship to assure her interest of 25000 he owed her does new wife have any rights to property?
No, the new wife has no interest in this property. When one of the two tenants who hold title to a parcel of real estate as Joint Tenants With Right Of Survivorship dies, the surviving tenant instantly gains sole title to the real estate by operation of law.
What are real estate title companies?
Title companies research the chain of title for the property before a home is bought. They make sure there are no liens, clouds on the title, or other encumbrances by doing a title examination. Basically they make sure the record title is A-OK. They can also perform the closing and can also hold deposit escrow money while the deal is pending.
Is North Carolina a lien theory or title theory state?
Title theory, bank will hold the title to property as long as their is a mortgage
How can you sign over a vehicle to a non-licensed minor?
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.
Real Estate Tokenization?
The process of digitizing ownership of a real estate property by issuing and managing tokens on a blockchain network is known as real estate tokenization. With fractional ownership, the technique allows multiple investors to hold a share of the property.
