$2.7 Million House bought by a 17 year old! What??

by Gary and Lisa Schoeffler on April 1, 2015

in Latest News

Have you heard the news!

17 year old, Kylie Jenner, purchased a $2.7 million home in Calabasas, CA, near sisters Kourtney and Khloe Kardashian.

This 4,851-square-foot home, located in exclusive gated community, was listed by Berkshire Hathaway HomeServices California Properties. The house features five bedrooms and six bathrooms, two-built-in entertainment centers, a library/study, a breakfast bar, and a bonus room. Outdoor amenities include a covered patio with a 26-foot-long dining table, a barbecue center and a swimming pool with a spa. There’s also a courtyard and a three-car garage.

 When we heard the news that 17-year-old Kylie Jenner had just bought a $2.7 million house, we were amazed! How on earth is a teenager buying a house?! But then again Kylie has made a lot of money on KUWTK.

Kris Jenner, Kylie’s mom, said she “helping” her daughter but not contributing financially. The house was purchased all with Kylie’s money. So what exactly did Mom’s “help” consist of and how can a 17-year-old sign on the dotted line for a house? There is no way she purchased that house her own name!

The “legal requirements” to purchase a home is typically 18. No state has an age of majority lower than 18. On top of that, every mortgage application asks for education, employment, and income history.

Mortgage experts for the LA Times said that either Kylie’s parents helped more than we know or the home was purchased in a trust that’s controlled by her mother or some other adult.

We believe it is more likely she purchased the home in a trust.

Celebrities often create trusts to buy a property in order to maintain some amount of anonymity for their personal, private address, as well as for liability reasons. A trust protects celebrities from having their home taken away in the event of a lawsuit.

Kylie makes a lot of money, especially for being 17 years old. It would make since that she would put her money and assets into a trust. She needs to protect herself against anything that may happen and keep the money she earns while being a minor.

Needless to say, Kylie Jenner has been blessed into an amazingly smart family that knows how to make money and this is just another example!

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

Gary and Lisa has written 371 articles.

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