My in-laws are considering transferring a house deed to my 7 year old. What responsibilities will my husband and I have if this happens?
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My in-laws are considering transferring a house deed to my 7 year old. What responsibilities will my husband and I have if this happens?
My in-laws are considering
transferring a house deed to my
7 year old. What responsibilities
will my husband and I have if
this happens?
Asked on March 22, 2019 under Real Estate Law, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
They can't transfer the house to a seven-year old: a seven-year old cannot own real estate and cannot enter into contracts. They can transfer the house to a trust for the child's benefit, which will then turn the house over to him/her at some defined time (e.g. at age 18 or 21) and make you (or anyone they want) trustee for the child, but they cannot simply give the home to the young minor child.
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