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Buying house that is in minors name

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grandma13 Guest	Posted: Fri Apr 08, 2011 4:34 pm    Post subject: Buying house that is in minors name Like 0 Dislike 0 The grandparent put his house in his minors grandchildren's name. He build house in 2005 and has lived in it. He now wants to sell it and I would like to buy it. We are in Texas how can he legally sell the property. There is not a lien on the property and he will owner finance. Grandma _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10531 Location: ALASKA 1085.02 Dollars($)	Posted: Fri Apr 08, 2011 8:32 pm    Post subject: Like 0 Dislike 0 Welcome grandma, Your grandparents want to sell the new house that they have built in 2005. They can formally sign a quitclaim deed mentioning the sale price of the property and transfer the property to you. If they make any profit from the sale of the property, then they will be liable for paying capital gains taxes. _________________ Procrastination is the enemy of your financial success

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