Mama in assisted living and I think her POA is using their power for personal gain.
I'd just like your opinion about what you think is going on here. Our mom is in assisted living. She has slowly spent down her investments and we knew last year that we would need to sell her house. My brother and I offered to buy it last summer and were told "no" by our sister who has POA. She moved her grandson into the house in January saying he wanted to buy it but he could only qualify for $ 100,000. My brother had an independent appraiser appraise the house for $ 125,000. We met as a family and talked and decided we had no other option but to accept his lower offer because mama needs this money starting in July. Just this week we got a call to go to the title company and sign papers because all of us are on the house title. When we get there the selling price is listed as $ 125,000. Thinking this was good; that her grandson was able to get the full amount we called her. She said no that he was still only able to pay $ 100,000 and the $ 25,000 was an "equity gift." He would pay property tax on that amount because it is the true value of the house. So he gets the benefit of paying a lower price for a house worth more and he can say is worth more. Who gains here? Is this not as important as it seems? We feel like mama (and ourselves) have been duped. Are we wrong?