0
No. Property can be held in trust for the minor until they reach the age of majority.
Wiki User
∙ 15y ago
Sad Ab
Sad Ab
Sad Ab
Add your answer:
Earn +20 pts
Can a minor own property?
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).
Can minors own property in Florida?
A guardian must be appointed by the court to manage any property owned by a minor. The guardian would manage the property under the supervision of the court. If the guardian wanted to sell the property, the sale would need court approval and the proceeds would be placed in trust for the child. The child could take over management of the property or proceeds at the age of eighteen.
Can a parent sign a deed in the name of a child?
No. Generally in the United States, the parent would need to be appointed the child's guardian by a probate court and then obtain a license to sell the child's interest in the real estate. Adding a child's name to a deed would complicate the title to the property and could result in legal costs later if the property must be sold or if you decide to take the child's name "off" the property. Generally, if the property must be sold, a guardian would have to be appointed by a court to sell the minor's interest in the property. The property will be considered the child's property. The guardian will need to obtain a license from the court. First the court will need to appoint a 'guardian ad litem' who would review the proposed sale and report back to the court whether it is in the best interest of the child. The GAL would need to be paid for their services. There would be court costs and also attorney's fees if you need to hire an attorney. After the sale, the court would require that the proceeds be deposited and supervised on behalf of the child until they reach the age of eighteen. There is one more factor to consider before adding a minor child's name to a deed. Once the child becomes eighteen, they will be able to manage the property on their own and the relationship may not be so friendly. They may refuse to convey the property back unless they receive compensation. Also, the property will become vulnerable to their creditors.
What are Minor Laws In The UK?
In the UK, anyone under the age of 18 is classed as a child.
Can a minor legally own property in Oregon?
A minor cannot legally own property. Property can be held in trust for the minor until they reach the age of majority, usually 18.
Can a foreigner in UK own property?
Yes
What is legal age of a child to make their own decision on custody rights in the UK?
Though not specifically applicable to the UK, the arguments in this regard are important. See link
You own property how will this affect your payments of child maintenance?
Only if they produce income
Could women own property or inherit property inn the Shakespearean times?
In Shakespearian times if a woman was an only child they could inherit their father's property and if their Husband died they could own the property that their Husband had ouwned
Our mother deeded property to only one child. Do children have a right to parent's property if deeded to only one child?
A mother who is competent is absolutely free to choose to convey her property to one child and that child would own the property. In many cases there is a child who helps the parent more than the other children. Children have no "right" to a living parent's property. A parent can distribute her own property during her lifetime to anyone she chooses. A different situation would arise if the parent is incompetent and taken advantage of by an unscrupulous child. In that case you should seek the advice of an attorney.
Property in UK?
Property Classifieds
If a child is hurt riding someone else's mini bike on some one else's property whose insurance pays for the injuries?
The property owner is responsible for injuries on their own property.
Can you buy a home in a child's name?
A minor cannot enter into a contract. It is not legal for Minors to "own" property. It could be purchased by someone "In Trust" for the child.
Can a minor own property?
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).
What is the duration of Property Ladder UK?
The duration of Property Ladder - UK - is 3000.0 seconds.
Can you get domicile if you own property?
If you own and occupy property it is considered your domicile.If you own and occupy property it is considered your domicile.If you own and occupy property it is considered your domicile.If you own and occupy property it is considered your domicile.
When was Property Ladder - UK - created?
Property Ladder - UK - was created on 2001-09-27.
