Before you are 18 years old, you cannot drink alcohol or vote in public elections. But does the law allow you to buy residential or commercial real estate?
In Queensland, the Property Law Act 1974 (Qld) provides that a buyer of property in Queensland is presumed to be –
until it is proven differently.
This means that it is possible for a minor to sign a contract to purchase land in Queensland. However, if a minor did sign a contract for the purchase of land, they are still going to need to obtain a transfer of the land to them at settlement, with the Queensland Land Titles Office.
Despite that it may be possible to sign a contract to purchase land as a minor, the Land Act 1994 (Qld) prohibits minors from being eligible to apply for, buy or hold land in Queensland.
This means that a minor cannot obtain a transfer of land into their name until they turn 18 years old.
It is possible for a minor to sign a contract to purchase land. However, settlement must not occur until they turn 18 years old, to ensure that they can properly take legal title to the property after settlement at the Queensland Land Titles Office.
If you are looking to buy property and are under 18 years old, we strongly advise you to obtain legal advice before doing so.
Our team of Property Lawyers can assist you if you have any questions relating to minors looking to buy property. Don’t hesitate to contact our team today with any questions relating the above or any Property law questions in general.