An adult is an individual who has reached the age of majority, which is defined as either 18 or 21 years old, depending on the state. This status grants the legal capacity to enter into binding contracts, including real estate transactions.
A key element for any valid contract in real estate, ensuring that individuals entering into legal agreements are legally capable and have the mental capacity to understand their actions.
Legal age refers to the official standard of maturity upon which an individual is considered legally responsible for their actions. In the context of real estate, contracts involving minors are typically voidable.
In legal terms, majority refers to the age at which an individual is no longer considered a minor and is fully able to conduct their own affairs. It can also refer to more than half of a group when making collective decisions.
