What is the legal age of competency to enter into a real estate contract in Minnesota?

In Minnesota, the legal age of competency to enter into a real estate contract is 18 years old. This means that individuals who are 18 or older are considered capable of fully understanding and entering into legally binding agreements, such as those related to real estate transactions.

This age aligns with the state's law defining the age of majority, which is when individuals gain the ability to make decisions regarding contracts without parental consent. Being at least 18 years old ensures that a person has reached an age where they are presumed to have the maturity and understanding necessary to engage in significant contractual obligations, like buying or selling real estate.

In contrast, individuals younger than 18 generally lack the legal capacity to enter into contracts independently, which is why options reflecting those ages are not correct in this context.