Children under 18 owning property, on the deed to Maine real estate who are minors, is it legal to do that I get asked a lot.Sure, you can put the Maine property in a minor, a child under eighteen's name.
But if you want to sell it, mortgage it before he or she turns eighteen, oh oh.
You even though maybe the parent and who set up the operation have to foot the bill for a Maine guardian ad litem, to protect the interests of that minor. Here is the skinny, the A-Z on the Maine gift to minors act. What the state legislature set up to cover assets given to or the transfer process for children under 18 years of age, minors.
An attorney, someone recognized by the courts as an advisor of the rights of that minor needs to be in the equation before selling, mortgaging, subdividing, etc.