Property deed. two people on it, one incompetent. can it be sold?
My in-laws own some property, market value $42k. My father-in-law has Alzheimer’s and has had to go into a nursing home. They have more resources than most elderly folk, but at $5K a month that will vanish fast, plus they are too well off to qualify for Medicaid. He was career military so he qualifies to go into a state veterans home at $300 a month, has been approved and is on a 5 to 6 month waiting list. But they need money to pay the current nursing home until then. Selling the property would cover it. Both my in-laws are on the deed. However, as I said my father-in-law is not competent. He also left no power of attorney. Can this property be sold under these circumstances, with only my mother-in-law involved? Or would we need to do what we have already discussed with an attorney, having my father-in-law legally declared incompetent and a guardian/conservator appointed for him who would have authority to do such a sale? (Only problem is, will cost $1,500 and the money situation is already a concern.)
1. What’s a POA?
2. Bullwinkle, the attorney is a friend of mine who’s given us some freebies on this and I don’t want to pester him again on this until we have a situation where we look like we need to actually employ him and pay him for his troubles, and it looks like we do.
3. As far as incompetence, he was tested at the nursing home using some kind of cognitive test on which in our state, if you score 12 or less you are considered not competent to conduct your affairs. He scored 5.
wizjp, we didn’t pay the lawyer (friend of mine) for his advice, but we’re about to pay him to handle this competency issue, just wanted a little bit of direction before I call on him again, for real this time. Thanks!
Related posts:
- People who have recently sold their property? (UK users only please)? My apartment has been on the market now for a month with a local well known estate agent, and I haven’t had a single viewing. It’s a very nice,modern place,...
- Can you really buy foreclosure property for no money down? I have been watching late night infomercials claiming you can buy property for less on the dollar and more importantly for zero money down? How is this possible and does...
- Can someone else buy property for you but not have their name on the deed? There is a piece of land I want to buy. My mother offered to pay for it so that I wouldn’t have to go through a bank for a loan...
- How do I buy property out-of-state with another out-of-state partner? I want to buy a triplex in another state. A friend of mine lives in the same state as the property and would like to buy it with me. Do...
- real estate: how are people able to buy property and rent it out to others? My uncle makes money by charging people rent for living in his duplex how would one go about doing that? what about in another state or country? please give me...
Tags: Competency, Incompetence, Property Deed
sell property | , 5 Nov 09
By Ben, November 6, 2009 @ 8:07 am
They can get POA easy under those circumstances
By bullwinkle, November 6, 2009 @ 11:26 am
Hmm… Who should I pay attention to… the attorney that we are paying to advise us, or some stranger on the Web?
By nana, November 6, 2009 @ 10:49 pm
Sorry to hear of all your troubles. Was he found LEGALLY Incompetent? In other words, has a doctor found him incompetent, or the courts? Just because he has Alzheimer’s doesn’t mean he is fully incompetent. My suggestion is to take him to an Attorney with you. Have them ask him the legal questions, i.e. do you know where you are, what is your name, do you know what you are signing? If he does, then you can have him sign it then. If not, then you will have to have an attorney do the paper work. Mt heart goes out to you. Good Luck!
Based on your recent additions to your question, Get a copy of that report and have your Attorney do the paper work for you. Ask him if you can pay him when the home sells. Sign a Promissory Note. It is best to go through an Attorney for anything like this. Just in case some nosy person says you are trying to do something illegal. Again, my heart goes out to you and I wish you luck!
By wizjp, November 8, 2009 @ 2:56 pm
If he’s legally incompetant, there is no way you can get a standard POA. Your mom will need to go to whatever your state offers as family court and have him declared incompetant and get the legal authority to transact for him; in effect a court ordered power of atty.
In short; the atty you paid for advice is probably totally correct.