Q: What happends if an elderly person gets dementia now mortgage in Default.Then Sale date but they dont know anything
So the elderly person gets diagnosed with dementia, their home goes into default soon theres a Sale date. Elderly person has no clue this is going on. This is the part i have a problem with...There is a live in caretaker watching and caring not only for this elderly person but the home as well. Caretaker picks up the mail everyday Notice of Default and Sale date is known to caretaker. I just found out Caretaker is also signer on elderly person bank accounts. Wrote checks to pay utilities food etc but not mortgage which was only $350/mo. The amount needed to bring mortgage current was $11,900 the equity in property was $695,000. Nobody says anything to elderly person and they let house go into auction. Isnt the caretaker responsible at some extent specially if she had Power of Attorney? Why did she not alert the old person or Next of Kin so they could help resolve and home not be lost. What are caretakers duties or what is right thing to do when this type issue arises?
A: If the caretaker was a guardian or conservator, they would be likely liable for breach of fiduciary duty. Under a power of attorney its less clear. The Attorney-in-Fact's duty is to use the POA only for the benefit of the Principal, but that doesn't necessarily place on them an affirmative duty to exercise the power. So the house was sold? Where is the equity? It sounds like elderly person needs a guardian, or at least someone more able to look after him or her. If the house hasn't yet sold, get an attorney involved immediately, if saving the house is important. You must have standing to take action - such as being an heir at law or a beneficiary under the EP's will. Contact an experienced real estate lawyer as soon as possible to find out if you can do anything in this situation. Good luck.
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