Release Real Estate Contract With Minor
Description
How to fill out Terminating Or Termination Of Easement By A General Release?
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FAQ
Under the majority rule, still applicable to more than two-thirds of the states, a minor may, at any time prior to reaching his/her age of majority, and for a reasonable time thereafter (usually no more than 30 days), disaffirm a contract, return the consideration in his/her possession or under his/her custody control ...
If a minor wants to disaffirm a contract upon attaining the age of majority, 18 in most states, he must do so within a reasonable time after reaching the age of majority. For example, returning a previously purchased car two weeks after turning 18 was soon enough to qualify as a disaffirmation.
Because of that, when minors sign contracts, the contract is not valid, and minors are under no obligation to honor that contract. There are exceptions, which include contracts for food, lodging, medicine, and other necessities.
Contractual capacity refers to the mental competence to understand the agreement. A minor is an individual who has not attained maturity or is under 18. The law recognizes a minor as lacking the capacity to contract. Therefore, contracts with a minor are voidable.
A parent or guardian must consent to a contract with a minor for the contract to be valid. Contracts made with emancipated children are valid because the court granted adult status to the emancipated minor.