Speak to a Certified Elder Care attorney about such matters, as an internet forum of lay people is unqualified to guide you. Even if a person professing to be an attorney came here to answer your question, you should STILL sit down with a CECA to get all of these details ironed out properly. There's a lot on the line.
1. Who are the other beneficiaries? Are they also scheduled to inherit funds from sale of the house?
2. Is the document a POA or DPOA? Are there contingent prerequisites for sale of the house? This is very important.
3. If you do buy, it has to be at fair market value - no discounts for any sibling.
4. What are the real reasons you want to sell? To pay for your mother's care or to keep it in the family?
5. If there are siblings who are named beneficiaries, you have to act on their behalf as well, which addresses whether or not they want the money or agree to keep the house in the family, and if the latter, how will you handle their proportionate interests? Give them partial title to the house?
6. You wrote that you would sign for your mother and yourself; as proxy, you would actually be signing for her. Does Alzheimer's prevent her from signing for herself? I honestly don't see why she would be signing for herself and you would be signing for her.
I agree that you need legal advice for this issue, not advice from a forum.
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Good luck.
1. Who are the other beneficiaries? Are they also scheduled to inherit funds from sale of the house?
2. Is the document a POA or DPOA? Are there contingent prerequisites for sale of the house? This is very important.
3. If you do buy, it has to be at fair market value - no discounts for any sibling.
4. What are the real reasons you want to sell? To pay for your mother's care or to keep it in the family?
5. If there are siblings who are named beneficiaries, you have to act on their behalf as well, which addresses whether or not they want the money or agree to keep the house in the family, and if the latter, how will you handle their proportionate interests? Give them partial title to the house?
6. You wrote that you would sign for your mother and yourself; as proxy, you would actually be signing for her. Does Alzheimer's prevent her from signing for herself? I honestly don't see why she would be signing for herself and you would be signing for her.
I agree that you need legal advice for this issue, not advice from a forum.
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