Posted on: 17th Jan, 2009 02:58 am
I am opening a business. But before I do that, I want to want to transfer the deed of my house to my two childern ages 4 and 2 (the house is paid off). You never know if get sued or being sued in a business or any other accident. Will my house be save being tranferred to my two childdern.
Hi Sophia!
Welcome to forums!
As far as I know, you will not be able to transfer your property in the name of your minor children. You may make a will in which you may name your children as the inheritors of your property but I don't think it is legally allowed to transfer property in the name of your minor children. You may try to form a trust and place your property in the trust.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
As far as I know, you will not be able to transfer your property in the name of your minor children. You may make a will in which you may name your children as the inheritors of your property but I don't think it is legally allowed to transfer property in the name of your minor children. You may try to form a trust and place your property in the trust.
Feel free to ask if you have further queries.
Sussane