Can real estate be given to a minor and be in the minor's name?

Specifically in New York City can an apartment be purchased and put in the name of a minor? Would that protect the real estate from any debts owed by a parent of the child? Would a trust be needed?

New York, NY -

Attorney Answers (4)

Yefim Rubinov

Yefim Rubinov

Estate Planning Attorney - Brooklyn, NY
Answered

I suggest that you make a trust for the minor. Speak to a lawyer to can help you with both i.e. set up a trust and the purchase of the R/E.

Edwin Drantivy

Edwin Drantivy

Contracts / Agreements Lawyer - Brooklyn, NY
Answered

It seems that a trust would best accomplish your goals in terms of asset protection.

Scott J. Wittlin

Scott J. Wittlin

Estate Planning Attorney - Boston, MA
Answered

There are going to be gift tax issues for you to address if you do place the property in your child's name (assuming it’s your funds and not your child’s that are buying the property). That being said I agree that any purchase of property on behalf of a minor should be in a trust.

The above statements are provided as general information and not intended as legal advice. Each matter has its own... more
Cheryl Rivera Smith

Cheryl Rivera Smith

Real Estate Attorney - Frisco, TX
Answered

If a conveyance is made to avoid debts, the court may deem it a fraudulent conveyance. To convey property to a minor, a trustee is usually the best recipient.

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