I am confused on this, I am Power of Attorney for my grandparents and in the papers for the Power of Attorney it states that I can sell off land/rent/lease - I am also the only one listed in their will as receiving this land when they pass. I thought about selling off the land since I do not live close to the property and it is just deteriorating since it's now abandoned. The Nursing Home stated to me that I cannot sell the land, if I do- the money goes to the Nursing Home. How could I sell this land without the money going to the nursing home? Do I need to seek a Real Estate Attorney to do this? Thanks for anyones help on this!
2007-09-06 06:41:56 · 4 answers · asked by gabe g 1 in Business & Finance ➔ Renting & Real Estate
Unless you are paying for their nursing home that property is being held to pay them after the fact. You are unlikely to manage keeping the money for yourself and not paying your grandparents debts.
2007-09-06 12:42:29 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It would be in your best interest to hire a attorney,the fees can come out of the the propertys value.If the government is paying for their care,chances are the land being sold will repay the government.Hire a attorney and he can help you more than anyone else.Good Luck
2007-09-06 06:57:40 · answer #2 · answered by ronald m 3 · 0⤊ 0⤋
If their care in the nursing home is being paid with public funds then the proceeds from the sale of the land can be used to pay for their care. Generally you won't be able to sell the land. When it is sold, the proceeds will be taken to pay for the care provided and anything remaining, if any, will go to the estate.
2007-09-06 06:48:49 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
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2007-09-09 06:07:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋