Follow
Share

My mother recently had a stroke and is currently in hospice stage. I am both POA and DPOA for her medically as well as the executer of her estate. We are trying to figure out options with her vehicle as we have family coming into town to be with her that want to use it but it isn't currently insured. In order to get it insured I need to 'sell' the vehicle to get it I my name so I can get it insured. The family is all on board with this as well plan to sell it and put the funds back into the estate, but with no one else local. Can I sign the title as her POA and then sign the title as the buyer? Or would I have to 'sell' it to another family member, wait until a title is generated and then sell it back to me? I guess I am looking for guidance on what to do. Any advice? TIA!

This question has been closed for answers. Ask a New Question.
Possibilities may depend on what state you live in as rules may vary and this is a global fourm.

Does your Mom not have enough funds to pay for a short period of coverage? Why not ask the visiting relatives to pay for part or all of that cost? Then worry about the title change later?
Helpful Answer (3)
Report

As POA you can buy insurance in your moms name.
Helpful Answer (0)
Report

Defintely an attorney question as you are dealing with some legal issues here. The sale would need to be legal in your state and the car would need to be sold for full value, the money placed in your Mom's accounts, and a clear paper trail of title change, and etc in order to do this. You are dealing here with laws about POA in which you cannot "enrich" yourself. Car titles in the name of only your Mom would be a problem here. You need to insure that what you are doing is legal in your own state. You might check with your local DMV about such sale and transfer of title/insurance.
Helpful Answer (0)
Report

Its not who you can sell it to but that it sells at Market Value. You need to talk to your local DMV. Me, why should you buy the car so the family has something to drive. They can rent.
Helpful Answer (0)
Report

I Am in MD, and when my folks moved in with us they wanted to keep their "sweet ride" for going places, with me driving as they had given up their licenses. In order to do that and get insurance we needed to sell the car to me. ( as we understood it) I did have POA, but Mom was also mentally good, so it was easy peasy. we went to AAA, and I bought the car for the lowest amount on Kelleys Blue Book. We still have that beauty! Sometimes it makes sense to have a spare car, our dd has borrowed it many times, and now that I am retired it makes sense to put some miles on it instead of my SUV, plus the gas mileage is better. And maybe the relatives can not easily afford a rental? Plus I think of my parents with a big smile on my face whenever I drive it. Just call your local AAA or DMV and ask, probably no need for a lawyer. Of course my parents were not going to need that money in the foreseeable future, and it sounds like your Mom will not either.
Helpful Answer (0)
Report

DMVs are accustomed to changing titles with a POA. Hopefully yours is written to allow you to make these type decisions. Look on your DMV website or give them a call.

However, the easiest thing might be to call your insurance agent and tell them you want to insure moms car and let them walk you through just that portion and deal with changing the title when you actually sell the car as her executor.
Helpful Answer (1)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter