| Author |
Message |
|
|
 pcypress2
Joined: 30 Aug 2009
Posts: 1
1.29 Dollars($)
|
 Posted: Sun Aug 30, 2009 9:23 pm Post subject: Real Estate Contracts |
|
|
If a person is under the age of eighteen and is allowed to sign a real estate contract to refinances and then refinances again in six months when they are eighteen, is the contract voided to the new mortgage company. What happens in a case such as this?
Pam |
|
|
jenkin7
Joined: 04 Jun 2007
Posts: 3429
Location: Hawaii
514.13 Dollars($)
|
| Posted: Sun Aug 30, 2009 11:25 pm Post subject: |
|
|
Hi Pam,
In most states 18 is the legal age to enter into any sort of contract. If a person signed a real estate contract when he was under the age of 18, the contract will not be considered as valid. If he refinances again, chances are that the lender will ask him to sign a new contract. |
|
|
jheard
Moderator
Joined: 12 Dec 2007
Posts: 599
Location: Houston, TX
98.69 Dollars($)
|
| Posted: Mon Aug 31, 2009 6:38 am Post subject: |
|
|
Generally, if a minor signs a contract, it is voidable by the minor. However, if you reaffirmat age 18, the contract becomes binding.
_________________
Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation. |
|
|
