house buying question

nudda

I am interested in getting a house on my nephews name. I want this to be a long term investment for him. However, he's only 10 months old so I dont know if it actually is possible to but a house in his name ?

Thanks

nudda

no one knows ??

Moonface

Your nephew will not be able to have a property in his name as minors cannot hold title to land in English law. Only over 18s can hold title to land.

However you could have it in your name and hold it in trust for him until his 18th birthday. A solicitor would be able to help you set up the trust for this.

Hope this helps.

m_13

A minor - somebody under 18 - cannot own a property. However, you can buy a property in trust for him to inherit when he is 18. You need to take taxation advice though to ensure the trust is created properly. He will be liable to capital gains tax when the property becomes his.

What would you be intending to do with the property for the next 17 years 2 months?

nudda

Thanks guys - really appreciate the help