Question 1
A young man of nineteen has been left a sum of money and wants to buy a small apartment in his own name to live in. His uncle tells him he is too young to hold the property himself and that something must be done to hold it for him until he is older.
Which statement is correct?
Show the answer and full explanation
Answer: B
The rule. To own land a person must have reached the age of majority, twenty-one. Below that age the property must be held for him on trust.
Why B is correct. At nineteen he is below the age of majority, so the apartment must be held on trust for him.
The other options.
- A treats eighteen as enough to own land, which is the leasing age, not the owning age.
- C and D try to cure the incapacity with a parent's consent or an adult co-owner, when the answer is a trust.
Exam note. Two ages run through this lesson: eighteen to lease, twenty-one to own. Nineteen is placed to catch the candidate who remembers only one of them.
To own land a person must have reached the age of majority, twenty-one →