Kiritsis & Associates
Kiritsis Law Group 212 922 0005
By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
Generally, it refers to the age at which courts allow an individual’s entitlement to handle his own affairs. In most jurisdictions, the age of majority is 18 years old. It is important to note that the term majority age and similar terms like it, maybe different upon specific circumstances. For example, the majority age to drive maybe 16, while the majority age to enter into a real estate contract maybe 18. Figuring out the majority age could be important in real estate transactions, because a minor could come back to hurt the seller, because in many jurisdictions the minor maybe able to disaffirm the contract and get his money back. The majority age could be important for trust planning purposes because it may require a trustee under a statute and/or per trust agreement to give money and/or lever of control to a beneficiary that reached the age of majority. The majority age of a tenant’s child may disable the application of certain housing regulation laws.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
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633 Third Avenue
New York, NY 10017
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