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The pitfalls of a minor child inheriting an immovable property [an extract from an article by: LEIGH JEPSON – Eversheds Sutherland [KZN] in GOLEGAL – 30 August 2024
Minor children, being children under the age of 18 years, are eligible to inherit assets by way of testate (with a will) or intestate (without a will) succession. This includes both movable and immovable property. Although there is no legal impediment to transferring such assets to a minor in accordance with the laws of succession, there are a number of restrictions in place that encumber the free use or administration of these assets that ought to be considered when drafting your will.
As minor children have limited legal capacity, all juristic acts, including the sale or mortgage of an immovable property in the name of the minor, must be performed with the assistance of the natural or legal guardian until the child attains the age of majority, notwithstanding that the child is the lawful owner of the property. This means that the guardian will have to assist the minor in concluding a sale agreement and signing the necessary transfer documents.
If this article is of interest to You, the Original Full Article can be viewed here: → https://www.golegal.co.za/minor-inheriting-property/