Detailed Answer
Florida law prohibits minors from independently selling or transferring real property interests. To handle an inherited property interest when an heir is under 18, you must follow court-supervised or statutory procedures. Common methods include:
1. Appointing a Guardian of the Minor’s Property
Under Chapter 744, you can petition the circuit court in the minor’s county of residence to appoint a guardian of the minor’s property. The guardian files a petition demonstrating that a sale or transfer serves the minor’s best interests. After a confirmation hearing, the court issues an order authorizing the transaction. See Florida Statutes Section 744.387 for sale of a minor’s real property.
2. Using a UTMA Custodianship
Florida’s Uniform Transfers to Minors Act (Chapter 710) allows property to pass directly to a custodian for the minor. The custodian holds title in a custodial capacity and may manage or sell the property solely for the minor’s benefit. When the minor turns 21, they receive full title. See Florida Statutes Section 710.502 for custodian powers.
3. Filing a Disclaimer of Interest
A minor can disclaim an inherited interest within nine months of the decedent’s death under Section 732.801. This redirects the property to other beneficiaries as if the minor predeceased the decedent. Because minors cannot execute binding disclaimers, you must obtain court approval per Section 744.704. See Fla. Stat. §732.801 and §744.704.
4. Initiating a Partition Action
If multiple heirs co-own the property and cannot agree on a sale, any co-owner may file a partition action under Chapter 64. The court can order the property sold and divide net proceeds among co-owners, including the minor’s share, with a guardian or custodian representing the minor. See Fla. Stat. §64.041.
5. Establishing a Trust
A parent or testator can transfer the minor’s interest into a trust. A trustee manages and sells the property according to trust terms. This method avoids ongoing guardianship proceedings but requires precise drafting to ensure the trustee’s powers cover sales or transfers.
Disclaimer
This article provides general information and does not constitute legal advice. For guidance on selling or transferring property with a minor heir in Florida, consult a qualified attorney.
Helpful Hints
- Consult a Florida attorney experienced in guardianship and real estate early in the process.
- Gather financial appraisals and evidence that a sale benefits the minor before filing a guardianship petition.
- Consider a UTMA custodianship for smaller estates to streamline management and avoid repeated court approvals.
- If co-owners disagree, a partition action can force a sale and equitable distribution.
- Maintain organized court orders, trust documents, and account statements for future reference.