Q: can the person who has power of atty sign a quitclaim deed if he is also one of the "buyers"?
94 year old father wants to quitclaim deed his house to his 3 children to avoid probate. His hands don't work anymore and so his son has power of atty so he can sign for his dad. Can the son sign the quitclaim for his dad if the son is listed as one of the buyers? Do the children have to pay any money for the "sale"?
A: That transaction might not be the best if the property has increased in value. By using a "Transfer on Death Deed" the father will obtain his objective of transferring the home to children outside of probate. Also, if he will need a nursing home but cannot afford it, the transaction would create problems when applying for Medicaid or similar benefits. This is an issue that should be discussed with an attorney.
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