California Real Estate Practice Exam

How can minors deal with received property?

1. Sell it directly

2. Rent it out

3. Need a guardian to sell it

4. Gift it without restrictions

The correct answer is: Need a guardian to sell it

Minors are considered to lack the legal capacity to enter into contracts, which includes the buying, selling, or leasing of property. As such, any transaction regarding property must be handled through a legally appointed guardian or custodian. This means that if a minor wishes to sell or otherwise transfer ownership of property, they would need a guardian to coordinate or facilitate the sale. This legal requirement exists to protect minors from making potentially detrimental financial decisions without appropriate guidance and oversight. A guardian can help ensure that the minor's interests are represented and safeguarded throughout the transaction process. This is a critical aspect of how the law approaches minor's rights in relation to property ownership, as it acknowledges their developmental stage and the need for adult oversight in financial matters. The other options do not adhere to legal standards concerning property transactions involving minors, as minors do not have the authority to engage in those activities without proper adult involvement.