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How old do you have to be to buy real estate?

Question by Lance: How old do you have to be to buy real estate?
Me and one of my friends have run into some money and are planning to be business partners. However we’re only 16 and are not actually sure if we can even buy real estate. Help please.

Best answer:

Answer by jordan
You can’t until you are 18.

Add your own answer in the comments!

5 Responses to “How old do you have to be to buy real estate?”

  • just me:

    Most states require you to be 18 to own property, due to the contractual obligations that go along with ownership. :)

  • Dual String Finance:

    Real Estate transactions are all contract-based and require everything to be in writing. Unfortunately, you have to be 18 to enter into any binding contract. Because if this, it would be difficult for you to find anyone willing to do business with you unless you have a person over 18 with whom you have complete mutual trust that will put everything (including loans and titles) in their name.

  • Rick B:

    No. You must be old enough to enter into a legally binding contract.

  • real estate guy:

    Actually all the other posts are WRONG. You can be under 18 to enter into a contract. However, no one will usually do this since the minor can void the contract at anytime.

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