Tuesday, January 6, 2015

Dad /Mom has dementia....we need to sell the house

The children have a POA (Power of Attorney for assets)  and Mom has been getting really ill lately.

WE MAY need to sell the house.

The owner of a property is very ill and family members have a POA and they go ahead and list it. If the owner passes away prior to the property being sold does anything change with the listing? Does it have to become the Estate of Deceased?

There must be an event (other than procrastination) that triggers the validity of the POA. This creates a medical (MOH) Form 21 Certificate of Incapacity under section 54(4) Signed by the attending physician.

If your parent was to pass away prior to the closing of the sale, the estate trustee, would arrange for a probate certificate.

As always, call an Accredited Senior Agent who has the answers that you need. Always seek a legal opinion for guidance.

David Pylyp
#Bythewater in Etobicoke

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