Hello all,
Not posted for a while but after some financial advice.
I have POA for mother who is now in a care home. No liquid assets left only the house which is owned jointly by step sister, who doesn’t live there. So house empty at moment. Local Authority have offered deferred payment agreement which we are likely to agree to. I’d like to buy house but under POA can’t act as buyer and seller. COP has said I need to revoke POA and instruct a deputy. Have found a family member who is agreeable to become deputy so he will then be responsible for bank accounts etc. I’m just wondering, if after I buy the house, could he then revoke his deputyship and transfer deputyship back to me? Is this legally possible do you know? As an only child, I think I’d like to have final control over my mother’s assets. Has anyone gone down this route? Thanks for reading.
Not posted for a while but after some financial advice.
I have POA for mother who is now in a care home. No liquid assets left only the house which is owned jointly by step sister, who doesn’t live there. So house empty at moment. Local Authority have offered deferred payment agreement which we are likely to agree to. I’d like to buy house but under POA can’t act as buyer and seller. COP has said I need to revoke POA and instruct a deputy. Have found a family member who is agreeable to become deputy so he will then be responsible for bank accounts etc. I’m just wondering, if after I buy the house, could he then revoke his deputyship and transfer deputyship back to me? Is this legally possible do you know? As an only child, I think I’d like to have final control over my mother’s assets. Has anyone gone down this route? Thanks for reading.