Where are people getting the idea that the property of kids is the property of the parents? Because I'm not so sure...
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Do Parents Own Their Children's Property? - FindLaw
All children under the age of 18 have the same rights with respect to owning property. They cannot enter into a contract without a parent co-signing, unless they are emancipated minors. But assuming that a minor came into the possession of the item without having entered into a contract, as is...blogs.findlaw.com
Well that blog post is discussing it in the case of two divorced parents fighting over their rights over the child! Which messes it up especially as the courts may tend to see the mother as the 'real owner' of the child.
There are circumstances where children can legally truly own property, but that doesn't mean a child who buys an RPG book with their pocket money 'owns' that book vs the parent. In English Law (which US Contract Law derives from, except in Louisiana I think) a child cannot enter into a Contract for non-necessaries, so technically when a 12 year old buys a book from the FLGS, they're not 'really' buying it! So who owns the book? 'Ownership' can be a fuzzy concept.
Anyway in practice a court is not going to stop a parent taking books away from their child.