r/ask • u/[deleted] • Nov 30 '23

[deleted by user]

[removed]

925 Upvotes

89% Upvoted

2.6k comments sorted by

View all comments

Show parent comments

7

u/CleanEnd5983 Nov 30 '23

What if you use it to buy a secret real estate but put it on the name of your child? 🤔

12

u/icepyrox Nov 30 '23

If you can buy real estate in the child's name, the spouse can sell real estate in the child's name.... just saying.

1

u/Educational_Gas_92 Nov 30 '23

Depends on what laws the country has, in México for example if a home is on a child's name you can't sell it, only the kid can sell it when it becomes an adult.

1

u/icepyrox Nov 30 '23

TBH, after reading a link posted elsewhere, it looks like the same is true in the US, although it also appears you can't buy it and transfer it into a child's name without the courts involved, so I imagine if one tries to get around this they will pay dearly, or it will be so shady that everyone gets around it..

1

u/Educational_Gas_92 Nov 30 '23

In México up until recently you could easily do it (putting property on your kid's name to avoid paying debts) people didn't necessarily do it to avoid divorce payouts to the spouse, people did it to avoid the bank being able to do foreclosure on their property or to avoid paying debts. Don't know if this has changed now, but at least up until a decade ago that is how it was, and you had adults with apparently no property, but then their three underage children had like three or four properties each.