I have recently become responsible for selling my disabled grandmothers' house after the death of my grandfather. I have no legal authority to do so, but my mother is emotionally incapable of handling the situation and needs me to take care of it. A neighbor has approached with a price, however I do not know if it is a fair price. My grandmother is mentally handicapped due to a stroke and wants twice the price he has offered. She is incapable of understanding "fair market value" or the negotiations, but has the legal authority to completely destroy any negotiations I undertake with the neighbor. To further complicate the matter, the house is in terrible condition and is over 2 hours away from where I live. I cannot spend the time, money, or effort to fix it up. It needs to be sold "as is." This problem has been hanging over my family for a year and a half. I need information on what I am legally able to do to settle this for good.
2007-05-27 05:22:05 · 5 answers · asked by Emili 1 in Politics & Government ➔ Law & Ethics
If your grandmother is mentally capable of giving you a power of attorney, she should designate you as agent (attorney-in-fact). You should use grandma's attorney for preparation of documents, and it should be understood that the attorney is HER attorney and that he is representing HER. You can, no doubt, get a power of attorney form at a stationery or office supply store, but we are dealing with a lot of potential problems other than just getting a document.
If grandma is unable to sign, it may be necessary to have her adjudicated an "incapacitated person" (this is a politically correct term meaning "incompetent").
The attorney will be a wonderful source of advice on matters related to real estate law, what real estate professionals to use, and how to maintain an "arms-length" transaction with the purchaser.
As a person in a fiduciary capacity, you need to know whether the price being offered is a fair price or not. The best way to do that is to get a professional real estate appraisal by a licensed appraiser using at least three comparables. The comparables are more meaningful if they are recent sales within the same neighborhood or close by. The appraiser will be able to show you that a property is of a certain condition, but because it has a newer roof, a modern kitchen, etc., it might be worth more. You basically need to be able to make sure everybody knows why there is a difference in prices of the house.
I would recommend an attorney-prepared agreement of sale, and that the attorney prepare the necessary deed for the conveyance of the property.
You may also want to consider the possibility of selling the real estate at a public auction. This is the point where it is crucial to have the attorney working with you. He will know the local auctioneers, and, with a real estate appraisal at hand, he may advise you if you might get a better price than you would get if selling it to a neighbor.
2007-05-27 05:46:19 · answer #1 · answered by Mark 7 · 0⤊ 1⤋
First of all, all the answers you have received to this point has left out a very important step.
The FIRST step you need to do is file PROBATE for grandfather's estate. Depending on the exact circumstances of the Grandfather's estate, the grandmother may not be entitled to 100% ownership in the home.
Once you have filed probate and are named executor, THEN you have the authority to file suit for disposal of the home, to have granny appointed a guardian or any other such.
Granny, even if she was competent, has no authority to give anyone power of attorney over property she does not own unless given that power by the court or other instrument which you do not detail here.
So, without further facts regarding EXACTLY how the deed is titled (i.e., Husband and Wife as Joint Tenants in common with rights of survivorship) no one can tell you the exact steps to follow.
2007-05-27 05:35:56 · answer #2 · answered by hexeliebe 6 · 0⤊ 1⤋
No you do not have legal authority to act on your grandmothers behalf with out a power of attorney. Your mother doesn't either. You would need to prove in court that your grandmother is not mentally able to care for her own financial needs (sometimes not hard to prove but is a drawn out process requiring a physician and testing) but I am curious, if she is mentally disabled then do her a favor and do it for her own good, also please consult with an appraiser, they will give you the fair market value of the home....get it in writ ting and show it to your grandmother, if she still is not agreeable, then please move to take the necessary steps to get her declared incompetent to handle her own affairs....
2007-05-27 05:29:35 · answer #3 · answered by jonni_hayes 6 · 0⤊ 0⤋
First... you need to get power of attorney for your grandmother.
Next, you need to contact a real estate attorney and have them complete the sales process for you.
The last thing you want to happen is to "sell" the house and something goes wrong with the transaction. There are so many situations that can come up that could land you in court for years and costs you tens of thousands of dollars.
2007-05-27 05:29:35 · answer #4 · answered by Dog Lover 7 · 1⤊ 0⤋
Well you may not want to do this, you need to declare grandma mentally incompetent, in court, and get POA over her affairs. If your family is against this option, its time to call in a realtor and let them handle negotiations for your grandma. I understand that it is hard to do this, believe me I understand from personal experience, but if you dont you will never be able to wash your hands of this. Its obvious you love your family, so just tell them where your going with this and move forward. Good luck
2007-05-27 05:28:19 · answer #5 · answered by melissaw77 5 · 1⤊ 0⤋