New Haven, CT asked in Estate Planning for Connecticut

Q: Can a power of attorney for a parent purchase property from that parent? Is it a conflict of interest?

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1 Lawyer Answer

Steven Basche

Answered
  • Estate Planning Lawyer
  • Glastonbury, CT
  • Licensed in Connecticut

A: This would be what is called "self-dealing." If the POA document itself allows self dealing transactions, it would most likely be ok assuming that the terms of the transaction are fair. But self-dealing transactions are looked at very closely, so it needs to be a fair deal based on fair values.

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