Transferring property to a minor can this be done and how , please read and help

Hallo
I own real estate in California and live in Europe.
Because of my daughter being a US Citizen and me not , I am thinking making a type of an agreement with my daughter , that is 17 now.

Is it possible to make an agreement with a minor?
How old does she have to be ?

I want to transferre my real estate I own in California over to her name and because the real estate is getting rent , I would like a side agreement with her , that she has to give me half of the income for live time.
Also a clause I would want to put into the agreement , that in case of a sale , that she will have to give me half of the amount that it sells for.

Is something like this possible , or can that be done?

What do you in America call an agreement like this?

Does someone have to register an agreement liket that , or is it enough to get each signature confirmed by a notary public?

With the agreement , I would want to make sure , that my live will be like a pension that is coming from the rent of that real estate.

I would like to hear from someone that has more knowledge about this.
Please explain to me step by step what to do and where I will get the necessary forms in the internet maybe in order to download

Thank you so much ahead for any answers.

With best regards Paul

panele said:

Hallo
I want to transferre my real estate I own in California over to her name and because the real estate is getting rent , I would like a side agreement with her , that she has to give me half of the income for live time.
Also a clause I would want to put into the agreement , that in case of a sale , that she will have to give me half of the amount that it sells for.

What do you in America call an agreement like this?

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We often call it "Recipe for Disaster." Depending upon the intent and actual actions taken, we sometimes call it "Tax Fraud."

I am open to correction, but I don't believe that a 17 year old in any state can enter into any "agreement" such as this.

You should retain an estate planning attorney in California so that you can explain what yoiu are trying to accomplish.

panele said:

Please explain to me step by step what to do and where I will get the necessary forms in the internet maybe in order to download

Click to expand...

You will not find 'forms' for this.

anteater said:

We often call it "Recipe for Disaster." Depending upon the intent and mechnics, we sometimes call it "Tax Fraud."

I am open to correction, but I don't believe that a 17 year old can enter into any "agreement" like this.

You should retain an estate planning attorney in California so that you can explain what yoiu are trying to accomplish.

Click to expand...

It is also called Fifty Ways To Screw Up The Title To Your Land For The Next 100 Years!

I think the only way to set something up which will accomplish your goals with the least amount of problems is to set up an irrevocable trust, funded with the property. You will need an attorney to do this.