Any party below the age of 18 is a minor. A minor is considered incapable of buying or selling a home because of his or her legal status. This includes hiring an agent. Additionally, the law prevents any delegation of power from a minor to another party, including transferring authority from a minor to another party using a power of attorney. While a broker can work with an adult who is representing the minor, an agent can negotiate with a minor’s court appointed guardian regarding real property matters.
Minors and Contracts
A contract is only valid if all parties have the legal capacity to be in a contract.
For example, a minor cannot be involved in a real estate contract unless he or she is an emancipated minor, which confers him or her the right to be involved in the transfer or purchase of real estate. To become emancipated, a minor must get approval from the court, get married, participate in the armed forces or obtain another legal court approved reasoning.
Minors can receive property through an inheritance or be gifted real estate without a guardian or co-title holder. If the minor wants to sell or rent real estate or any other real estate real estate activity a guardian must accompany the minor in his or her decision-making process. A minor can, however, be involved in real estate transactions if he or she is personally emancipated.
