I am wanting to sell my mom's house but have questions about it.
I have POA for my 85 yr old mom with AD. She owns her home but has been living with my husband and I at our home. She has a Home equity line of credit and we have had to use it to pay medical bills( hospital stay, rehab and respite care) and her cost of living as well as repair her home (was in dire need of repairing) as we wanted to rent her house out to help pay her bills etc. We are currently renting it out but I have my hands full with taking care of her and still a teen living in my home and just want to sell it and be done with it and not worry about the upkeep and renters etc. If we sell it I know the Home equity line of credit will be paid back to the bank first then the rest will be hers. At that point am I able to put that into savings to use for her care or is it required to re-invest it into property or be taxed if we don't.