Selling parents holiday home

snowbabe

Hi everyone,please excuse my stupidity but Ive no idea where to start .We need to sell my familys second home as it is not being used ,and is becomming a noose of sorts. My father has dementia ,the house is in his name only.But mother still aluve too .Can we sell it as he agrees it needs to be sold . Secondly where do we put the money from the sale?can it be gifted to the siblings and grandchildren ? Thanks very much in advance for any help given

Bigus

I think your Mam should get and enduring power of attorney from your dad , you need proper legal advice from a solicitor , try and pick one from recommendation and not the phone book.

snowbabe

Bigus wrote: »

I think your Mam should get and enduring power of attorney from your dad , you need proper legal advice from a solicitor , try and pick one from recommendation and not the phone book.

I have a solicitor already changing the main house ownership on its portfolio as its been registered to a shop for some bizarre reason by mistake but this is taking ages .We've been advised to get enduring power of attorney equally between all siblings .It all just seems so messy !

doc11

If he needs long term care(with dementia) what good is giving away the money needed for his care? If he needs care under say fair deal nursing deal 5 year will need to pass before transfer will not be taken into account. The state will go looking for the money and it will get seriously messy. Solicitor won't care he'll get paid regardless for shuffling the paper.

snowbabe

doc11 wrote: »

If he needs long term care(with dementia) what good is giving away the money needed for his care? If he needs care under say fair deal nursing deal 5 year will need to pass before transfer will not be taken into account. The state will go looking for the money and it will get seriously messy. Solicitor won't care he'll get paid regardless for shuffling the paper.

Oh its just all so messy even now,its only the begining of mild dementia and there is other money there that we cannot touch as weve no power of attorney .Weve also been told that its too late to get POA as the diagnosis has been made ! So, really stuck either way ,really would lije someone to tell me simply do this this and this andcwhat order to do things.The plan was to expand house with downstairs bathroom etc as hes adament hes not going into a home ! Hes only early 70's

Mrs OBumble

snowbabe wrote: »

We've been advised to get enduring power of attorney equally between all siblings .It all just seems so messy !

I would question the wisdom of that advice.

The practical implications would include that you need to get involvement from five different people in every single conversation that you have with a bank, lawyer, utility provider etc.

If it came from a solicitor, perhaps get a 2nd opinion. Or consult an organisation like Age Concern or similar in your area who have practical experience of these issues.

Billgirlylegs

If he has been diagnosed, then he can not grant POA. If he can, nominate / agree to one person acting on his behalf.

You may need to appoint a committee to manage his personal affairs.
It is extremely messy,
A Solicitor who knows what he is doing should sort it.
Hope it gets sorted

Paulw

Mode Note: Thread closed. This is a very complex matter, and something that you need full and proper legal advice on. You need it to be done properly, through a solicitor. Advice online won't be of much use, aside from the advice to seek legal advice.

The_Conductor

OP- you need to contact a competent solicitor and organise a meeting to discuss what your options are- cognisant of the future needs of both your parents.

Personally- I would be incredibly hesitant to suggest it is prudent to dissipate the resulting funds from disposing of any assets- there is no way on earth its a good idea to sell anything and share the proceeds among the children.

Get an appointment with a competent solicitor- it is not appropriate discussing it here (on the internet)- you need proper legal advice. In addition- as a website- we are not allowed to offer legal advice.

Accordingly- Thread closed.