I want to do wholesaling in nebraska,but the laws are different here like one thing it states “Yes,minors can make contracts before turning 19.However, you can legally cancel the contract since adults typically cannot enforce it against you.This is why adults usually require a parent or other adult to co-sign contracts made with a minor.” so does my age,limits me on my options on wholesaling?
After some brief research, it appears that anyone under 19 is a minor in Nebraska. When you put a property under contract, you have equitable ownership. You are right that you can cancel most contracts at anytime while still being a minor. Unfortunately for real property, the “Statute of Frauds” requires all parties to be bound to the agreement. You are not bound to any agreement and therefore, would probably not be able to wholesale as a result.
Disclaimer: I am not a lawyer. I really have no idea what I’m talking about. Don’t sue me if I’m wrong.
That sucks. I say move to another state. ;D