Minor

Definition

In the context of real estate law, a minor refers to an individual who has not reached the age of majority, which is the threshold of adulthood as recognized or declared in law. The age of majority varies by state but is usually either 18 or 21 years old. A key legal implication of being a minor is that any contracts entered into by a minor, such as those involving the sale, lease, or use of real estate, are voidable at the discretion of the minor. This means that the minor has the legal right to cancel or enforce the contract, while the other party remains bound by its terms.

Examples

1. Purchase Agreement: If a 17-year-old enters into a contract to purchase a home, they have the right to void this contract before or shortly after reaching the age of majority.
2. Lease Agreement: A minor signs a lease for an apartment. If they choose, they can void the lease contract at any time before they turn 18, or a reasonable time thereafter.
3. Real Estate Investment: A 16-year-old decides to invest in a piece of property. Since they are considered a minor, they can rescind the investment agreement without facing legal penalties from the other party.

Frequently Asked Questions

1. Can a minor legally own real estate?

• Yes, a minor can legally own real estate. However, they may be unable to manage it or enter into binding contracts related to the property without a guardian or legal representative.

2. What happens if a minor misrepresents their age in a real estate contract?

• If a minor misrepresents their age and enters into a real estate contract, the contract is still voidable by the minor. The minor can cancel the contract, though they may be liable for any misrepresentation damages.

3. What can the other party do if a minor voids a real estate contract?

• If a minor voids a real estate contract, the other party must comply with the voidance. There are limited legal options for the other party to enforce the contract once voided by the minor.

4. Are there exceptions to the rule that minors can’t be bound by real estate contracts?

• Exceptions may include contracts for necessities, such as agreements for food, shelter, and clothing. Even then, the specifics can vary by state law.

5. Can a guardian or legal representative enter into real estate contracts on behalf of a minor?

• Yes, a guardian or legal representative can enter into and manage real estate contracts on behalf of a minor, ensuring the minor’s legal rights and interests are protected.

Related Terms

Age of Majority: The legal age at which an individual is considered an adult and capable of entering into binding contracts.

Voidable Contract: A contract that may be legally voided at the option of one party. This applies to contracts signed by minors who can choose to enforce or void the contract.

Guardian: A person legally appointed to manage the affairs or property of a minor or incapacitated person.

Legal Capacity: The ability to enter into a legally binding contract, typically held by individuals who have reached the age of majority.

Online Resources

1. FindLaw: Minor Laws and Legal Issues
2. Nolo: Age of Majority
3. Legal Information Institute: Minors

References

1. Taylor, Robert S. “Real Estate Law for Paralegals.” Aspen Publishing, 2017.
2. Miller, Roger Leroy, and Frank B. Cross. “The Legal Environment of Business: Text and Cases.” Cengage Learning, 2019.

Suggested Books for Further Studies

1. “Real Estate Transactions: Problems, Cases, and Materials” by Gerald Korngold and Paul Goldstein.
2. “Principles of Real Estate Practice” by Stephen Mettling and David Cusic.
3. “Real Estate Law” by Marianne M. Jennings.

Real Estate Basics: Minor Fundamentals Quiz