Posted: Fri Jul 03, 2009 8:14 pm Post subject: Power of Attorney and obtaining property
Hello,
I have recently been given some property via an individual who has Power of Attorney for a family member. The property is something that I have been told for years that would be given to me, so I always assumed that I would be receiving it sometime. Since the Power of Attorney has the legal right to have done this, and it doesn't in anyway place the owner of the property in any financial stress......I am just wondering if in the Will, after the persons passing...... the property was not intended for me after all, if the property can then be taken away from me and given instead to someone else that is mentioned in a Will? Just checking to make sure before I invest any funds in the property since the Power of Attorney for this particular person has not seen the Will but does have access to all of his financial business and was thoughtful enough to quitdeed me the land that I have been living on for years and there are some major repairs that need to be done soon that I don't want to do until I know for sure that the property/quitdeed can't be undone.
In my opinion, as the property has been transferred to you with the help of a power of attorney, it would be considered as valid. I don't think the will would be able to override this transfer of property. However, to be on the safer side, it would be better if you could contact an attorney and take his opinion in this regard. _________________ Procrastination is the enemy of your financial sucess
have you checked power of attorney? has he authority to sell/ transfer property ? is it notarized? since property tranfer has been done on the basis of power of attorney you need to check all these thing.
also ensure that property has been transferred in your name in contry office as well. you can confirm it by title search.
A will only passes property that is part of the decedent's estate at death. Since the property was transferred by someone with a power of attorney, that property is no longer part of the estate, and not transferrable by will. However, if the property is devised by the will, it may be contested and the court has the power to void the transfer.
I would check the will to see if it makes a specfici devise, that is specifically names the property to which you are referring. If not, there is less chance it will be contested. Also make sure you have a warranty deed from the person with the power of attorney. _________________ Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.
adonis
