Just wondered. His home is not being kept up or lived in. I do have power of attorney. Legally how are proceeds of the sale handled if I can and do sell?

Find Care & Housing
Two good points made already.

I would add, yes, technically you can sell the house if the poa is constructed properly.

But remember, Dad is still living. Any proceeds of the sale are his. As poa it is your job to be a good steward of his money and his care.

consult a lawyer and see an accountant about dealing with the money.

Im selling my dads house right now. I need the proceeds to be available for his care. There will be no complex investments.
Helpful Answer (4)
Reply to Windyridge

I think another question is, "Is he competent to make a decision about this?"
Helpful Answer (2)
Reply to cmagnum
AB1022013 Jul 25, 2018
Not at this point. He is at the end stage of alzheimer's. Has been in nursing home almost 1 year. Will get with his lawyer and I'm guessing proceeds would go into an escrow in case needed for his care.
Proceeds would go into his account. Is he incapacitated? It is your responsibility as POA to keep the house maintained. Read the POA sometimes there are some very odd instructions in them.
Helpful Answer (3)
Reply to gladimhere
AB1022013 Jul 25, 2018
Yes, I was thinking into an escrow just in case needed for his care. Guess I just need to get with his lawyer on that. Thanks! Just seemed it would save the monthly costs that's having to come from his income now for prop. taxes, insurance, pool upkeep, utilities and all else.
Subscribe to
Our Newsletter