Is it possible to purchase a house from a minor's settlement and how can it being done? - Estate Planning Law Questions and Answers- LawQA.com

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Is it possible to purchase a house from a minor's settlement and how can it being done?

Horn & Johnsen SC
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You would purchase the real estate in the same manner as you would from a private party, except that the seller would be either the trustee of the minor's trust (if applicable), or the minor's guardian or custodian, depending on the circumstances. Typically, the property must be purchased at fair market value and a court order authorizing the sale is often required. You may wish to consult with a real estate attorney regarding your options.

Answer Applies to: Wisconsin
Replied: 8/31/2012

Martinson & Beason, PC
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To purchase a home from a minor's money, you would need to get court approval. You may have a Conservatorship for the minor as a minor cannot own property in their name.

Answer Applies to: Alabama
Replied: 8/30/2012

Answer By William Spern

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Yes. The money should be put in a specific trust for the sole benefit of the minor. Then the trust can by the house and be listed as the owner. The Money will then go to the minor when the house is sold. However, at 18, the minor can insist of the money and force a sale of the house to recover the amount of the loan. Any loan of the money must contain an interest charge to preserve the minors money.

Answer Applies to: Michigan
Replied: 8/30/2012

Answer By Sally Hamblin

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A minor cannot enter into a contract. Generally, it would be held in trust. The named trustee for the minor or whoever oversees the settlement for the minor.

Answer Applies to: Michigan
Replied: 8/29/2012


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My guess is that this would only be possible with the approval of the probate court. It would depend on the way that the settlement is structured, I would imagine, but usually, anything involving minors is handled through the probate court.

Answer Applies to: Michigan
Replied: 8/29/2012


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If a guardianship is first established for the minor child and title is placed in the name of the guardianship there should not be a problem.

Answer Applies to: Florida
Replied: 8/29/2012


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I believe it would be possible, depending on the specific circumstances, but you will likely need court approval since the case involves a minor.

Answer Applies to: Michigan
Replied: 8/29/2012

Answer By Scott Jordan

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In most cases, you would need to get the approval of the Judge. Consult with the attorney who represented the minor.

Answer Applies to: California
Replied: 8/29/2012

Charles M. Schiff, Attorney at Law
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You would only be able to do this legally with the court's approval. You need to bring a motion before the court asking for authority to use the minor settlement in this manner.

Answer Applies to: Minnesota
Replied: 8/29/2012

Answer By Mike Yeksavich

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With court approval

Answer Applies to: Oklahoma
Replied: 8/29/2012

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