by CL follow (1)
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as the relatives walk away with nothing except hating each other forever, as per usual usual.
It's an all too common occurrence.
if you could provide an address of a similar size house and lot within a couple blocks then you get much closer to the accurate market value. Zillow it for starters.
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The MIL has now moved into a facility, which is a desirable outcome overall. As is common and predictable, there were some disagreements and acrimony related to the POAs and what they mean, and whether the daughter entrusted with financial type duties was performing them as well as she could have, charges mostly leveled by a lone sibling who seems to have paranoia issues in general.
So, he made a move wherein he had a lawyer draft a new POA, which of course, superseded the CPA daughter from the POA, and left him as both the medical and the financial
attorney-in-fact. (I know these only are in play if the MIL were incapacitated, yet the momentum and the MIL's acquiescence has made it de facto responsibilities)
Since the brother lives somewhat close, the MIL has settled into her old folks' home and the rest of the siblings are scattered throughout the country, the brother who has seized control is now anxious to sell the house so as to avoid maintenance and needless visits. He arranged a sale with a friend for around 200k, and all seemed ready to go. However, he discovered that the Recorder's office had some weird docs on file that said that his sister (the one he has been aggressive towards) was specified as the mortgagee, with a dollar amount specified at $62,500 with 7% interest per annum. The docs have been on file since 1999.
Any idea what my father-in-law could have been thinking? I talked to the SIL, and she gave me some vague story but I still don't see what benefit my FIL might have received by having these drawn up.
Thanks in advance for your insights!