A wild animal can never be a PET, it took decades to domesticate dogs, probably hundreds of years of selective breeding before they are even actual pets. There are still people breeding to make dogs that are more and more docile.
I sure am interested in owning a wolf or wolfdog, but I would NEVER force it to live the life of a house pet. There are plenty of wolfdog rescues because people try to do this and it doesn't work out. It is the same exact issue with coydogs and coyotes.
This is not like taking in a fawn and raising it, hand feeding it and loving on it, because deer are herbivores/prey. A deer would essentially be like a goat, and people don't (normally) take goats on car rides, walks and share meals in the same room with them. People do that with dogs, and wolves and coyotes do not end up like dogs.
Letting this animal around kids is very irresponsible no matter how trustworthy the owner thinks it is. I know my dog is good with kids but I still am cautious with him.
As far as legalities it depends on your area, but in my area it's not very difficult to get a permit to own a wild animal, depending on the animal, lots of people here own wolves, haven't met anyone with a tiger. Call your local police department, there's usually a 'receptionist' who can answer questions and note your concerns to have someone look into it.
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