http://attorneyattorney.com/webroot/blog/2009/07/05/does-durable-power-of-attorney-give-me-the-right-to-quit-claim-my-dying-fathers-home-to-myself-and-siblings/ Tue, 13 Dec 2011 18:39:49 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://attorneyattorney.com/webroot/blog/2009/07/05/does-durable-power-of-attorney-give-me-the-right-to-quit-claim-my-dying-fathers-home-to-myself-and-siblings/comment-page-1/#comment-88 frak1a12 Sun, 05 Jul 2009 16:17:58 +0000 http://attorneyattorney.com/webroot/blog/2009/07/05/does-durable-power-of-attorney-give-me-the-right-to-quit-claim-my-dying-fathers-home-to-myself-and-siblings/#comment-88 You had better ask a lawyer on this one. A financial institution or title company will probably not accept a power of attorney for land transfer. You may need a conservatorship. In other words, you have to go to a judge and have your father declared incompetent. You had better ask a lawyer on this one. A financial institution or title company will probably not accept a power of attorney for land transfer. You may need a conservatorship. In other words, you have to go to a judge and have your father declared incompetent.

]]> http://attorneyattorney.com/webroot/blog/2009/07/05/does-durable-power-of-attorney-give-me-the-right-to-quit-claim-my-dying-fathers-home-to-myself-and-siblings/comment-page-1/#comment-87 Othniel Sun, 05 Jul 2009 12:19:35 +0000 http://attorneyattorney.com/webroot/blog/2009/07/05/does-durable-power-of-attorney-give-me-the-right-to-quit-claim-my-dying-fathers-home-to-myself-and-siblings/#comment-87 You need to consult an attorney on the details, but as a real estate agent and as a tax pro I have to say that it is much better to inherit real property than to have it given to you before the original owner dies. It has to do with basis and with taxes. A trust may well be a good solution but you and your family need legal counsel. You need to consult an attorney on the details, but as a real estate agent and as a tax pro I have to say that it is much better to inherit real property than to have it given to you before the original owner dies.
It has to do with basis and with taxes. A trust may well be a good solution but you and your family need legal counsel.

]]> http://attorneyattorney.com/webroot/blog/2009/07/05/does-durable-power-of-attorney-give-me-the-right-to-quit-claim-my-dying-fathers-home-to-myself-and-siblings/comment-page-1/#comment-86 donfletc Sun, 05 Jul 2009 05:56:28 +0000 http://attorneyattorney.com/webroot/blog/2009/07/05/does-durable-power-of-attorney-give-me-the-right-to-quit-claim-my-dying-fathers-home-to-myself-and-siblings/#comment-86 You may do anything that your father would have done. If challenged in court as a conflict of interest, you have to provide the court a reasonable explanation of your actions. If there are any family members or creditors who might contest your action, your action could leave the estate in litigation. This is the primary area of risk. Quit claim also does not clear title if it was previously clouded. An action like having the home sold for taxes and bought back by family does clear title, but it can take a lot of time. You may do anything that your father would have done. If challenged in court as a conflict of interest, you have to provide the court a reasonable explanation of your actions.
If there are any family members or creditors who might contest your action, your action could leave the estate in litigation. This is the primary area of risk.
Quit claim also does not clear title if it was previously clouded. An action like having the home sold for taxes and bought back by family does clear title, but it can take a lot of time.

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