Follow
Share

My MIL now lives full time with my sister in law. She used to live with her siblings in a condo and is on the mortgage. My sister in law has been paying her third of it but can’t anymore because of care costs. She needs my MIL share of equity for care costs and because she’ll never live there again but MIL's siblings refuse to sell or refinance. And they demand she keep paying. Any suggestions for options?

This question has been closed for answers. Ask a New Question.
Jmartin, since this is so complex, I would recommend that Mom-in-law make an appointment with an Elder Law Attorney to see what are her options.
Helpful Answer (1)
Report

Who exactly is named on the title?  If the siblings refuse to sell or refinance, I'm assuming that they're named on the title as well as your MIL and SIL?   Do each of the 4 hold shares in the condo?

And more to the point, are they named as equal (fee) holders in the title on the deed?
Helpful Answer (1)
Report
Jmartin526 Jan 2021
3 are on title. MIL + her two siblings who she used to live. But now she is unable to live alone and they are unwilling/unable to take on her care, so she lives full time with her daughters family.
the 3 are qual on title. 2 are on mortgage. I recommended to cash out refinance the mortgage so she can get her share and be off title as well.
(0)
Report
Your situation may be too complex for anonymous crowd-sourced advice, since there may be other factors at play. Please have MIL invest in a 1 or 2-hr consult with an actual professional who knows elder law, Medicaid qualification and estate planning -- you won't be sorry.
Helpful Answer (1)
Report

Thank you to everyone who replied. It is a difficult situation
Helpful Answer (0)
Report

3 are on the title? Then that means your mother bought a home with two other siblings, then had to leave it.
IMHO (and it is only that; you need to consult a professional, likely Elder Law Attorney) your Mom will need her own POA or person serving as guardian to force a sale on the home. The proceeds will then be divided three ways. These assets will be long to your Mom and she can spend these on a care plan for her care in home where she is being cared for with the help of the same attorney. Forced sale is almost always possible unless it is a married couple. Meanwhile Mom can stop paying until sale of house at which point she would owe those back payments and taxes to those who have been paying it.
Consult an attorney. Mom with Alzheimer's cannot do this. If financial POA has a well written document they can act in court on her behalf, and can force this sale for her care. If there is no POA then too late for that and guardianship must be done.
Helpful Answer (1)
Report

By being on the mortgage do you mean she's on the title or she's a co-signer on the loan? If she's on the loan and can't pay and her contribution can't be made up by the others, your mortgage pay'ts will be short every month and you'll be hearing from the bank... not good news. Could result in foreclosure or sheriff's sale.
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter