Some knowledge of law required

skyepark

Hi my father will be selling his house and putting the money in a trust under my name, he would like me to provide him with POA so he can purchase property with this money using my name abroad.

Is it correct that I can print out a POA form, get it notarised then get the paper authorised to be used abroad at the apporpriate embassy?

Linton

Is this real!!!!!! I fear one or both of you could end up in jail.

The requirement of a POA is that the attorney must act in the best interests of the "client". Spending your money (since he has effectively given it to you) to buy property abroad in your name must be fraud presumably for his benefit. Why he should want to do it I dont know, perhaps some tax evasion.

If he wants to use his money to buy property for himself suggest that he does it himself and not involve you.

Archi_Bald

Linton wrote: »

If he wants to use his money to buy property for himself suggest that he does it himself and not involve you.

Quite agree.

dinosaur7

This sounds like a very odd transaction, and I think you should be extremely wary of it. If you don't just walk away now, please make sure that you get independent legal advice (without your father present) before committing to anything. Indeed, it might be worth mentioning to your father that you feel you must get legal advice first...then if there is anything 'iffy' about the arrangement it might cause him to reconsider and you might be able to get out of it with the minimum awkwardness.

dunstonh

This transaction smells of fraud. It may not be but it does look it based on a few lines you have written. Maybe you could explain what exactly he is trying to achieve by this.

opinions4u

Some knowledge of law required

It sounds dodgy.

If it's meant to be, get a bent solicitor.

If you want it to be something that's above board, do it properly. See a solicitor who isn't bent.

jamesd

If the property is in a trust for you, a POA from you is not required because he can act as trustee. There's no need for a POA for you anyway since you can sign documents via courier as required in a few days. There are very large risks for you here and I don't see any benefit for you at all.

skyepark

He wants to do this to protect his money from his wife she has a lot of money and he fears that she will try to take his assets too. The law says that any money he gets from selling property if invested abroad within a certain time does not need to pay tax over here. Can you tell me why this is fradulant? He wants to buy property in my name abroad, I would create a POA only to buy property and would be valid for a certain time only.

skyepark

What if i suggest that he buys property in his and my name ?

opinions4u

This is a seriously complex area of both law and taxation.

Take professional advice.

skyepark

ok thanks for the help guys