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Buying & Selling using EPA
Firefox10
Posts: 1 Newbie
I am new to the forum, I've been told its very informative and frequented by professionals. I have a question regarding Power of Attorneys Lasting EPA's.
If for example Mr Jones grants Mr Smith a lasting PA can Mr Jones use the PA to transfer Mr Smiths property into his name.
Can the PA be used to transfer property?
Thanks
If for example Mr Jones grants Mr Smith a lasting PA can Mr Jones use the PA to transfer Mr Smiths property into his name.
Can the PA be used to transfer property?
Thanks
0
Comments
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Yes but it's probably not lawful unless there are some very unusual circumstances. . Speak to a solicitor.0
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If for example Mr Jones grants Mr Smith a lasting PA can Mr Jones use the PA to transfer Mr Smiths property into his name.
If Jones has granted Smith the POA over Jones' affairs, then Smith can, if the POA allows it, transfer Jones' property, or do other things with Jones' affairs.
Jones won't be able to do anything with Smith's affairs.
Anyone acting with POA MUST be able to show that what they've done is in the best interests of the person they're acting for.0 -
A POA can be set up to manage specific things (eg a bank account) or to exclude specific things, eg a property.
However if the POA is unrestrcted then yes, it would include the selling, renting or transferring of a property.
However, it is a legal requirement that the attorney act at all times in the best interests of the donor. Failure to do so is a crimianl offence. And transfering a property into ones own name could well constitute theft. Or tax fraud. Or various other offences.
See:
https://www.gov.uk/power-of-attorney/overview
https://www.gov.uk/lasting-power-attorney-duties/overview
http://www.ageuk.org.uk/money-matters/legal-issues/powers-of-attorney/power-of-attorney/
https://www.alzheimers.org.uk/site/scripts/documents_info.php?documentID=1540
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