text: when is it legal to own property in new york city?   according to the law - all you need is to be of age - so be over 18 years old.  when it comes to realizing the rights one has in a western country that is something else.  if you mean to buy a house/appartment you should realise that there can be a lot of problems that people to not tell you about - there is a lot of paperwork and one needs to be carefull not to be tilted.  you will really need legal advice from a trustworthy person who has dealt with this before.