Power of attorney and selling land ???
#6536361
05/12/19 02:20 PM
05/12/19 02:20 PM
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Duckstick80
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Say one sibling has POA and they buy some of their parents land at 40% value and sell the same amount to another sibling for the same or less since the farm house was on this land. The other sibling wants to buy land and they tell them they need to pay 2.25 times more what they paid. The reason for the purchase was the principal needed more money for medical reasons but there was no proof of this. Is that in the best interest of the principle or are they gaining assets at the cost of the principal? Is there anything the sibling can do? A few vehicles were also taken with zero or very low payment vs market price.
From what I understand every decision is suppose to be in the best interest of the principle. Shouldn't the other two siblings be required to pay full price for everything they get?
Last edited by Duckstick80; 05/12/19 02:24 PM.
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Re: Power of attorney and selling land ???
[Re: Duckstick80]
#6536375
05/12/19 03:22 PM
05/12/19 03:22 PM
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Lugnut
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It sounds like a repeat of the age-old story of siblings turning on each other when the parent's money and estate become available. One sibling with POA abuses that power to his/her benefit and the other siblings are screwed. That's just one of many scenarios.
I agree with the above advice. Get a good lawyer.
Eh...wot?
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Re: Power of attorney and selling land ???
[Re: Duckstick80]
#6536379
05/12/19 03:59 PM
05/12/19 03:59 PM
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Snowpa
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If you go through probate it costs everybody .
Never Confuse Stupid With Crazy
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Re: Power of attorney and selling land ???
[Re: Duckstick80]
#6536398
05/12/19 04:57 PM
05/12/19 04:57 PM
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newtoga
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My Mother’s estate went very smooth. My other two siblings were easy to deal with. But both of my siblings had daughters that had borrowed money from mom and had not paid it back, I have the contracts, lol. Might ask for it someday, it’s more fun holding the contracts. As for advice get an attorney
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Re: Power of attorney and selling land ???
[Re: Duckstick80]
#6536402
05/12/19 05:16 PM
05/12/19 05:16 PM
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snowy
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Well, the first thing I would do is get all of you together and talk about what is happening. I would ask for a fair shake and all should be treated equal if no results then I would tell an attorney will be in touch with them. There also maybe some laws they are breaking other then being fair to all on the price.
With mentioning an attorney getting involved they may come right around and do what is right and fair. No one wants to get started with that avenue if it can be taken care of in a civil way.
Last edited by snowy; 05/12/19 06:34 PM.
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime
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Re: Power of attorney and selling land ???
[Re: Duckstick80]
#6536422
05/12/19 06:14 PM
05/12/19 06:14 PM
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Posts: 45,271 james bay frontierOnt.
Boco
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It wont take the lawyers long to have it all. Do your best to sort it out without lawyers being involved. If it comes to lawyers fighting it out in court,you and your siblings will have little or nothing left.
Forget that fear of gravity-get a little savagery in your life.
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Re: Power of attorney and selling land ???
[Re: Duckstick80]
#6536451
05/12/19 07:25 PM
05/12/19 07:25 PM
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Boco
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Whatever you win,there will be a lien on it from the lawyer bills.A lawyer told me this in no uncertain terms.They can drag it out until it will all be gone.Better to settle in a fair manner between yourselves. A power of attorney does not give the person the right to profit in any way from those granting the power of attorney.Any moneys spent administering the affairs must be documented and accounted for,and can be reimbursed for out of pocket expenses incurred. If the land is sold to cover expenses incurred,it must be sold at market value,and if sold under value to a relative(for a possible kickback),that would definitely be not only a conflict of intrest but also likely fraud. However if these are the wishes of the principle then it will be a rough go to change that.The lawyers love cases like that.A lot of times doctors are involved also,in cases where the persons mental capacity comes into question at the time the Power of attorney was made,or a will changed etc. Does not take long to rack up the bills against the estate. That said,sometimes a letter or two from a Lawyer threatening action is enough to scare off a fraudster.
Last edited by Boco; 05/12/19 07:41 PM.
Forget that fear of gravity-get a little savagery in your life.
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Re: Power of attorney and selling land ???
[Re: Diggerman]
#6536494
05/12/19 08:54 PM
05/12/19 08:54 PM
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Duckstick80
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No.1, Its not your money. No.2, you shouldn't assume any of it is your money. What does this comment have to do with anything I said? I was talking about a power of attorney abusing the power to get cheap land for themselves and a sibling then wanting top dollar for more land on the same quarter from a third sibling when they wanted to PAY for it. All the land proceeds are going into the principles account. The person who owns it all is still alive, just can't make decisions and the power of attorney isn't makeing the best either. There is a will that will clarify the money issue when that day comes but this isn't about that.
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Re: Power of attorney and selling land ???
[Re: Duckstick80]
#6536509
05/12/19 09:23 PM
05/12/19 09:23 PM
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danny clifton
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seen lots of families bust up over money.
my sisters can have whatever they think is fair. rather have my sisters than property. im a grown man. I can earn my own stuff
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
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Re: Power of attorney and selling land ???
[Re: danny clifton]
#6536536
05/12/19 10:38 PM
05/12/19 10:38 PM
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Duckstick80
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seen lots of families bust up over money.
my sisters can have whatever they think is fair. rather have my sisters than property. im a grown man. I can earn my own stuff How is trying to buy something not earning your own stuff? He's upset because he wants to buy the same amount of land that they did but when he made the attempt his sibling wanted 2.25 times more money for land that's on the same section. His mother is still alive and his siblings said they had to buy it to make sure she had money for the nursing home. However she had enough for another 7 months so there was time to sell it for full value or auction it if that was true. Not sell it to yourself at a discount price. Ripping your own parent off so you can afford land isn't earning anything! And what upset him is they told him they already had other buyers lined up
Last edited by Duckstick80; 05/12/19 10:44 PM.
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Re: Power of attorney and selling land ???
[Re: Duckstick80]
#6536592
05/13/19 03:37 AM
05/13/19 03:37 AM
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waggler
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As said earlier they need an attorney; yesterday. You said the Will is not being followed. Who is the executor/executrix? The persons feeling slighted should not be dragging their feet on this issue. It always amazes me how people will be penny wise, and pound foolish. They need an attorney.
"My life is better than your vacation"
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