Question:
If two people own a home, person A has power of attorney over person B, Person A signs all documentation as POA during sale and Person B dies before closing, what documentation do you need, or does the lawyer sort this out?
Top of Form
Answer:
There are numerous facts not mentioned here which are important to be asked and answered before the question can be properly addressed. If it is in Joint Tenancy, it is simple, but we have to determine whether or not the joint tenancy arrangement was severed. There are eight different grounds for severance.
If not, and the estate of the deceased is permitted to convey the interest, free of debts, then it would go to the surviving joint tenant. All that is needed is a Death Certificate issued by the Funeral Director.
If not, the property was held as Tenants-in-Common. The Power of Attorney was good for the sale, but not for the “conveyance” of the property. The Estate will require the appointment of an Estate Trustee by the Courts.
Brian Madigan LL.B., Broker