Buying a site from a minor. What to do?

[fryman04]

I am interested in buying a site. The price is $20,000. The owner is a 17 year old girl. How should I do this? I will be using Escrow.com, but can I do the transaction with a minor? How can I protect myself?

Any suggestions and tips are welcomed.

Thanks

 

[Tia Wood]

I suggest you contact a lawyer.

 

[Andrew Shaw]

1st, explain to her your worries about her age, and explain to her the comon law about doing business with a minor. Find out when she will be turning 18, if she will be turning 18 within the next 1-2 months, simply explain to her your situation, and attempt to pend the sale untill she reaches the age of 18. I would certainly contact a lawyer before pushing 20k to a minor. Ive heard horrific stories of instances much like this. Minors have NO legal obligations what-so-ever when doing business. Get professional help, and dont be affraid to ask for proof of age if you do do business with her.

 

[fryman04]

She is born in December, so waiting isn't an option.

She is a nice girl willing to cooperate, I just need someone here with experience in these matters, I'm sure there are lawyers in this forum, and since this is the legal issues board it is the right place to ask this question.

I was thinking of having her transfer the site to her dad or something like that and doing the transaction with an adult.

 

[Duckinla]

Have her give the domain to a parent or someone she knows who is over 18. Then do the transaction with the legal adult.

At $50 or $100 I wouldn't worry about it. But at $20,000, you have to treat it like any real world business transaction. Unfortunately, if I understand the laws correctly, when doind a transaction with a minor you incur a liability that never goes away. I believe it could possibly impact your ability to resell the domain in the future.

 

[Luc]

Buy it from her parents, not her. When you draft up the contract make it in the name of the parents and have her transfer ownership to the parents first. I'm no lawyer, and you'll need one, but I think that's the easiest way. Also, when transfering the funds transfer to parents. Take the girl completely out of the transaction.

 

[Dale Hubbard]

The girl is unable to enter into a legal contract. Luc has nailed it.

 

[jdk]

Definately complete the transaction through the parents.