16-01-2020 09:54 PM - edited 16-01-2020 09:58 PM
As asked elsewhere, and without being able to find any guidance from ARNECC?
Does anyone know if a minor executed CAF is valid?
Perhaps the lawful guardian showing their capacity should complete the CAF as the Client Agent?
Further information suggests NOT SO!
"I understand it settlement can be done on PEXA for a minor but the contentious issue is whether they have the power to sign the CAF in their own right. From what PEXA were saying a guardian isn’t able to sign the CAF on a minors behalf because they don’t have capacity to do so and you can’t settle a deal on PEXA where a court order is issued for a guardian to sign on behalf of the minor so one would assume that a minor should be able to sign the CAF because by process of elimination it’s the only option left when everything else is ruled out 🤷🏻♀️"
on 22-01-2020 06:14 PM
Interesting question, and one I can only shed a little light on, probably!
I understand that in some jurisdictions (VIC, SA, NSW and ACT) minors may own land and be recorded on title, though there are some differences when it comes to noting capacity.
In QLD, this is not the case, as minors may not own land, and while this is also currently the status in WA, I believe changes are afoot that will allow them to - stay tuned.
With respect to execution of the CAF, I'm afraid I'll need to direct you to your land registry. I'd be very interested to know what they say if you do approach them - please share!