Home, Land, Property Buying and Selling - land deed
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jam1ntx
01-09-09, 02:19 PM
My mother-in-law deeded over 85 acres to my husband and my 14 year old daughter. We discovered that there are laws concerning building on the poperty because it is in her name and not mine. WE are appauled the his mother wouuld put us in this position. Our daughter could turn 21 and make us pay her for the other half of our land any suggestions on what we should do???:
Gunguy45
01-09-09, 02:42 PM
How about getting a lawyer, equitably splitting the property, selling her half and putting the funds into some sort of trust for her education or when she comes of legal age? Since she's a minor, I'm sure there are issues with signatures and ability to enter a contract, etc, etc. When she turns 21 she can't MAKE you pay, she's just a co-owner of the property, nothing will happen I'm sure, unless you both agree to a contract.
Don't try and just sell the unuseable, unbuildable area as her half, and keeping the best for your use, that could probably be challenged.
No property expert, just giving an opinion here. My opinion is you need a real estate attorney.
Don't try and just sell the unuseable, unbuildable area as her half, and keeping the best for your use, that could probably be challenged.
No property expert, just giving an opinion here. My opinion is you need a real estate attorney.
twelvepole
01-09-09, 04:42 PM
In most states the contractual age of majority is 18. In most states, a minor can disaffirm a contract for a sale of land only after attaining majority.
Contract law is not the same in every state. Consult with an attorney.
It is likely that your hands are tied until the child reaches majority. The mother-in-law was likely legally advised to do this in order to assure that if the property is ever sold that the child will receive 1/2. The minor's interest is protected.
The law always assumes that a minor cannot understand the implications of a contract. A minor is protected, even if it is at the disadvantage of another.
Contract law is not the same in every state. Consult with an attorney.
It is likely that your hands are tied until the child reaches majority. The mother-in-law was likely legally advised to do this in order to assure that if the property is ever sold that the child will receive 1/2. The minor's interest is protected.
The law always assumes that a minor cannot understand the implications of a contract. A minor is protected, even if it is at the disadvantage of another.
whatley
01-27-09, 10:58 AM
Check with a competent Real estate attorney, the 2 to 4 hundred is cheaper than doing it wrong. Before you hire the attorney make sure he has had experience in a deal like this.