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can 3 minors under the age of 18 be the sole names on a property deed in ny

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kbucaj Joined: 02 Nov 2010 Posts: 1 1.28 Dollars($)	Posted: Tue Nov 02, 2010 3:01 pm    Post subject: can 3 minors under the age of 18 be the sole names on a prop Like 0 Dislike 0 my husband passed away andmy children inherited 25k each..my mother owned a home and my childrens share was allowed to be used to purchase shares in the home. however ther was a 100k loan on the property but somehow my mothers name was taken off of the deed and 3 minors were left on it. is that legal in NY
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue Nov 02, 2010 8:30 pm    Post subject: Like 0 Dislike 0 Hi kbucaj, It is not legal to place the property in the name of the minor children. If you want the kids to inherit the property, then it's better to place it in a trust and declare them as the beneficiary. Once the kids are adults, the property can be transferred in their names. Thanks

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