Can my husband and I put our home in our 16 year old son’s name?
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Can my husband and I put our home in our 16 year old son’s name?
Asked on January 17, 2012 under Real Estate Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You and your husband and place legal title in the name of your minor son who is 16 years of age of real property, however I suggest that rather than placing title in the name of the minor you have a trust created and place legal title of the property in the name of the trust giving the property to your son as a trust asset.
By doing this, there will be a trustee under the trust overseeing the property for the minor until he is 18 years of age assuming that is the time you want legal title going into his name.
I suggest that you consult with a Wills and trust attorney about your question and how to do what you want to do.
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