Definition of "Legal age"

Marie Cruz real estate agent

Written by

Marie Cruzelite badge icon

Florida Homes Realty

The age at which one is legally capable of entering into binding contracts, signing a deed and negotiating business agreements. In most states this is the age of majority. Normally this is the age of 18. However, for certain activities, such as drinking alcoholic beverages, the age could be higher or lower in the case of qualifying to obtain a driver's license. A contract, deed, or business agreement is not valid when signed by a minor.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Room in a building used to collect solar heat. To provide for such collection, a room is generally constructed with a glass roof and walls. ...

Raising money by mortgages and borrowing the money directly from financial institutions. The presence of debt financing provides financial leverage, which tends to magnify the effects of ...

The person giving property or establishing a trust. ...

Slang reference for a preliminary prospectus that outlines the important aspects of a new issue securities for a real estate company, partnership, or investment trust. This prospectus ...

Amount subject to depreciation, which equals the initial cost less the estimated salvage value. ...

A court order issued to a defendant in an action either prohibiting or commanding the performance of a defined act. A violation of an injunction could lead to a contempt of court citation. ...

Money set aside for a possible loss, such as from a fire. ...

The definition for the gross living area published by the Appraisal Institute’s Dictionary of Real Estate 4th Edition is: “The total area of finished, above-grade residential ...

Large, high-volume food store where customers serve themselves by going through the aisles and selecting their groceries to be paid at the cash register on the way out. ...

Popular Real Estate Questions