Hi i was wondering if anyone could help.
My nan and grandad own a property as tenants in common. Unfortunately my grandad has vascular dementia and alzheimers and is now in a care home. My nan therefore wants to sell the house and downsize and where she is now has too many memories for her.
However, they did not make lasting powers of attorney.
I understand that she will need to apply someone such as my mum to become a deputy but will she also need to appoint someone to become a trustee to act on my grandad's behalf?
Also, she wants to purchase a new property out of the sale proceeds. Can this be done or will she have to keep my grandad's share in a bank account for him and only use her half of the sale proceeds?
Hope what I am asking makes sense.
Many thanks
My nan and grandad own a property as tenants in common. Unfortunately my grandad has vascular dementia and alzheimers and is now in a care home. My nan therefore wants to sell the house and downsize and where she is now has too many memories for her.
However, they did not make lasting powers of attorney.
I understand that she will need to apply someone such as my mum to become a deputy but will she also need to appoint someone to become a trustee to act on my grandad's behalf?
Also, she wants to purchase a new property out of the sale proceeds. Can this be done or will she have to keep my grandad's share in a bank account for him and only use her half of the sale proceeds?
Hope what I am asking makes sense.
Many thanks