Can a 5 yr old buy RE?
Can a child purchase a property and have it recorded in their name alone? Pay for it out of their own account? Thanks
- Contractor/Investor/Consultant
- West Valley Phoenix
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They can't hold title as far as I know.....
usually have to be 18 for any legal document. Thats why kids 17 need their parents to sign when they join the military.
@Bob Burns
No. Need a trust and have them be the beneficiary
Quote from @Chris Seveney:
@Bob Burns
No. Need a trust and have them be the beneficiary
Ok thanks! Nice, simple insight!
@Bob Burns You may want to look into the Uniform Transfer to Minors Act and whether/how it has been codified in your state.
Yeah just have a trust and name them the beneficiary, you could do an LLC route in your name and transfer it later to them as well
Quote from @Tom Gimer:Really cool! Love the creativity. I would have never known.
@Bob Burns You may want to look into the Uniform Transfer to Minors Act and whether/how it has been codified in your state.