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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3671
Experience:  Solicitors 2 years plus PQE
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Can I purchase a new build off plan 999 year leasehold property

Customer Question

Can I purchase a new build off plan 999 year leasehold property in my son's name who will be 17 at the time of exchange but 18 before completion actually takes place in 18 months. Is teh minimum age of owning UK property taken from the age as at exchange of contracts or at the time of completion? Thanks, XXXXX XXXXX was interested to know the law on this point
Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
Hi,

Thank you for your question and welcome. MY name is AJ and I will assist you.

A person aged between 16 and 18 does have the power to enter into a contract for the purchase of land.

The only issue is that this person may also apply to have the contract set aside up to the age of 21.

This not so much a problem for the buyer it is that the seller may be reluctant to enter into such a contract knowing it could be set aside.

The area of law is pretty vague but the argument would that because the contract is not completed until your son is 18 it should therefore be binding.

Will the seller accept your son as the named buyer. The best way to do it, maybe if you offer the seller a guarantee of your sons performance of the contract - if the seller does not ask for this they do not mention it.

Kind regards

AJ