Feb 6, 2004 ... In addition, Texas State law does not prohibit a representative payee from investing in real estate. In this case, it is determined that the ... Program Operations Manual System (POMS) A. PR 02-110 Purchase Of Property By Representative Payees On Behalf Of Minor Children In Texas REPLY ~ Texas State law does not prohibit a minor from acquiring real or personal property in his or her own name. In addition, Texas State law does not prohibit a representative payee from investing in real estate. In this case, it is determined that the purchase of real estate by the parent representative payee on behalf of the minor child qualifies as a prudent investment under the "prudent man" rule. This memorandum is in response to your request for our opinion as to whether or not a minor is permitted to own property in the State of Texas. You have requested that we determine whether or not the proposed purchase of real estate by the representative payee qualifies as a prudent investment under the prudent man rule. Further, if this is considered to be a prudent investment, you have requested that we determine whether or not Texas State law permits the property to be titled showing the child as owner. For the reasons discussed below, we believe that there are no statutory restrictions on the ownership of property by minors in the State of Texas, and that the purchase of real estate by the representative payee qualifies as a prudent investment under the prudent man rule. A child Social Security beneficiary (C1) received a retroactive payment of over $100,000. The child's mother is the representative payee and is a realtor. The mother, as representative payee, wishes to use $84,000 from the retroactive payment to invest in a house for the purpose of renovating and selling it.
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VISIT OUR WEBSITE (www.ssa.gov) ON THE INTERNET, OR CONTACT YOUR LOCAL SOCIAL SECURITY OFFICE. Benefits. Retirement · Disability · Medicare ...
Sheridan Solomon and Associates Realtors in Macon GA and Warner Robbins GA is a premier real estate agency specializing in selling and buying luxury homes.
Imperial Realty Company is committed to participating in our community and encouraging ... is a City of Chicago SSA Commissioner and is a member of CASCO.
The Social Security Administration (SSA) is headed by a Commissioner and has a staff of almost 60,000 employees. SSA's central office is located in ...
A San Francisco based commercial real estate firm dedicated to achieving superior investment returns for its clients and partners.
The Social Security Administration manages the program, but SSI is not paid for by ... SSI include real estate, bank accounts, cash, stocks, and bonds.
JAH Realty, L.P. is a leading retail real estate operating company, managing and leasing over 4 million square feet of space in neighborhood and community ...