are there any laws saying minors dont truely own anything?
Answer:
You only own what you paid for. Meaning you made the money that you paid for the item for.
If your parents paid for it, it is theirs. If they gave you the money that paid for it, it is theirs.
If you worked and made the money that paid for the item, it is yours.
Of course minors can own and inherit property. If the minor is too young to manage his/her own affairs, the property is often held in trust, but legal title to it is still the child's.
However, there are loopholes about minors entering into contracts. Laws about contracts can vary by state, but I believe that in most states, someone who enters into a contract with a minor under 18 cannot enforce against the minor - the contract is voided. The loophole is where the minor was under 18 at the time the contract was formed, passed age 18, and kept the benefit of the goods/services of the contract. In that case the contract becomes enforceable.
Actually, as a minor I am pretty sure you can own stuff -- However you may not have the ability to access it until you get your majority. An adult may have a custodial relationship in this situation.
Minors can own properties but they cannot transact and enter into contracts.
No, there are laws protecting minors but no law
prohibiting minors from owning anything.
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