How old do you have to be to buy land/a house?

I had a 16 year old come up to me today and said that he was going to buy a house and that he was going to build an apartment community on it. I asked him when and he said that he was going to start it in a few months. Is it possible for a 16 year old to buy land in Texas. Or is it possible that like he owns a business and is able to do it that way, because then it would be under the businesses name and not his, because I've looked up stories on Google and it said that you could be part of a board or a shareholder if their parents owned the business or something like that. IDK. Just thought that I would ask 

Anonymous2021-03-01T14:25:23Z

St Louis home buyers from https://bitly.com/3dYDoxE

10

Christin K2021-01-27T12:14:56Z

You cannot legally have a contract with a  minor--someone under the legal age of 18--without a legal adult being on the contract. That would include a home purchase or land purchase. If the minor is legally "emancipated", i.e., considered by the court as a legal adult, that's different. 


A 16-year old may indeed have the money to buy a house, but some legal guardian or payee has to sign that contract. It sounds to me like your 16 year old is yanking your chain. 


As far as a business, that's a little different. A 16-year old can own or start a business. There aren't any contracts involved in doing that--BUT--if the business does something illegal or fraudulent, or if they cheat a customer and the customer decides to pursue legal action against the business, then they won't be able to sue the minor--only the business. There are some tricky rules here. 

11

?2021-01-27T00:34:33Z

"I had a 16 year old come up to me today and said that he was going to buy a house and that he was going to build an apartment community on it."

I'll take 'things that didn't really happen," for $500, Alex. 

01

Elaine M2021-01-26T21:29:04Z

You have to be of age as an adult to complete a contract. 

21

Anonymous2021-01-26T19:53:04Z

He is delusional or you are a troll.

22
Show more answers (5)

Trending Questions

My mom bought a house in full and managed to put it under my name?17 answersCan a tenant sue the landlord for harassment and win if he banged daily on the door several times a day demanding overdue rent payment?15 answersWhy do landlords always try to garnish their old tenants wages when they know the person is struggling?19 answersI'm a pensioner living in a over 55 housing association flat I stay at a lady friends at night does that effect my housing benifit?5 answersWhat happens if you and your boyfriend/soon-to-be fiancé can’t agree on a house you both like?19 answers