Mother has been declare incompetent (demenetia). Siblings fighting over property even before Mom passes - think I'm "after" the house. Family is a mess - mother's will was done out of anger and everything has changed. She will be going into nursing home. Would like to avoid probate after her death. I want to add all of my siblings to the title so that everyone feels better about their "inheritance" and I can get on with caring for mom without all the fighting.
2006-09-27 09:38:29 · 6 answers · asked by Shirley 1 in Business & Finance ➔ Renting & Real Estate
Most likely but you would be stupid to do so.
What will happen if you do it is that some will want to sell and cash out while others want to keep the house and it will be a hugely expensive legal mess. Trust me, I've seen it.
If no one can agree, the best thing to do is to sell the house and split the proceeds.
2006-09-27 09:47:09 · answer #1 · answered by Jim R 5 · 0⤊ 1⤋
Yes, if there is no mortgage. If there is a mortgage, you would have to refinance the property and put all of the heirs on the mortgage as well preventing any heir from getting a better position than the lender.
Obviously you were chosen to hold the POA for a reason. As the principal of the POA you have the power to change her will too such that changing what was done in anger might be corrected to what you desire, but in doing so you risk spending a good deal of time in probate due to the likelihood an heir would contest the will (it sounds like you won't be able to please everyone). I suggest you talk to everyone considered before making any efforts to change the will to see if your solution is universally acceptable.
2006-09-27 11:25:06 · answer #2 · answered by linkus86 7 · 0⤊ 0⤋
I very much reccomend AGAINST that. IF they are fighting now, you just wait until she's gone....it will get worse. You have leverage now, with the house in your name, and you will lose it if you put it in your name-- and then what if one sibling sells their interst and REALLY pisses of the others? You'll wish you hadn't done it.
You should honor your mother's will, regardless of emotions.. . maybe she woudl still BE angry if she wasn't suffering from mental illness.
If none of you want to keep the home after her death, I highly reccomend just selling the thing and putting her money into a trust to later be distributed according to her will-- or if she is okay with it, distribute the funds now-- tying you all together with a house does NOT sound like a good plan.
2006-09-27 10:36:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If your mother signed the POA and authorized you to be the POA and if the POA gives you the right to encumber the property, which menas make real estate decisions on behalf of your incompentent mother, then you can add them to title, but it seems since everyone want to be added you may need to look at revocable trust
2006-09-27 09:53:14 · answer #4 · answered by jp 1 · 0⤊ 0⤋
I don't think you have the authority to do that, might want to get a legal opinion on this one. The State and Federal government now have a look back law that is either 3 or 5 years and anything changed out of her name could put you in trouble and it won't be worth it.
2006-09-27 09:47:43 · answer #5 · answered by semi273hemi 4 · 0⤊ 0⤋
Yes you can but it will create a HUGE mess. All will have to agree if you want to sell it. It is better to tell the brothers and sisters to chill out and then deal with probate than to get all to agree on a sale price, an offer etc.
2006-09-27 09:49:30 · answer #6 · answered by N3WJL 5 · 0⤊ 0⤋