Was Gdn'ship Necessary for BM to Complete Sale?
Imo if either a power of atty or a trust agreement had been in place, then it's possible but not certain, that BM could have completed IN home sale, without petitioning for gdn'ship & being appt'ed as gdn.
A: Maybe, if prior to (contract for deed? in spg 2019 iirc) initial transaction, SM had executed a power of atty document, if it designated BM as her agent, and if it granted him power to sell r/est in her name, it's possible but not certain BM could have completed the IN prop sale w'out gdn'ship & being appted Gdn.
A: Maybe, if prior to initital transaction (contract for deed in spring 2019, iirc), BM & SM had established a typical self administered living trust/SALT, if they had appt'ed selves as trustees, and if as either trustee had power to sell real est, and if IN prop had been held in trust name (that is, if the deed from prior owner in chain of title had shown that trust as grantee, but based on what I saw online per county tax ofc, it was not titled that way), and if initial contract had named the trust as the owner/grantor.
Many i-dotting & t-crossing real est. documentation details are driven by title ins. co's and/or mortgage lenders, w some req'mts being imposed nationwide. My thoughts on necessity of gdn'ship could change, if -
--- a friend/family-type loan was made to buyers (IOW, if buyers' mortgage was not from a conventional lender & packaged for resale to/thru Fannie Mae/ Freddie Mac, et al), and
--- the sale or loan was not contingent on issuance of owner's and lender's title ins policy.
But who would pay $ 700,000 + for home without being assured of good title? jm2cts.
{ETA: If BM & SM had executed either of these ^ two documents, and if buyers, title ins co. mortgage lender, et al had been found them acceptable, it's possible BM would not have been forced to seek appt'mt as G'dn thru the ct.}
I welcome comment, clarification, or correction, esp'ly from our professionals here, esp'ly attys, & title ins co employees.
@DizzyB You're referring to completing sale of his/their now-former IN property. Good question. W nearly any legal/property question, seems the answer is ---it depends.Would there have been any other way for BM to have executed the real estate deal without having Suzanne declared incapacitated?
Imo if either a power of atty or a trust agreement had been in place, then it's possible but not certain, that BM could have completed IN home sale, without petitioning for gdn'ship & being appt'ed as gdn.
A: Maybe, if prior to (contract for deed? in spg 2019 iirc) initial transaction, SM had executed a power of atty document, if it designated BM as her agent, and if it granted him power to sell r/est in her name, it's possible but not certain BM could have completed the IN prop sale w'out gdn'ship & being appted Gdn.
A: Maybe, if prior to initital transaction (contract for deed in spring 2019, iirc), BM & SM had established a typical self administered living trust/SALT, if they had appt'ed selves as trustees, and if as either trustee had power to sell real est, and if IN prop had been held in trust name (that is, if the deed from prior owner in chain of title had shown that trust as grantee, but based on what I saw online per county tax ofc, it was not titled that way), and if initial contract had named the trust as the owner/grantor.
Many i-dotting & t-crossing real est. documentation details are driven by title ins. co's and/or mortgage lenders, w some req'mts being imposed nationwide. My thoughts on necessity of gdn'ship could change, if -
--- a friend/family-type loan was made to buyers (IOW, if buyers' mortgage was not from a conventional lender & packaged for resale to/thru Fannie Mae/ Freddie Mac, et al), and
--- the sale or loan was not contingent on issuance of owner's and lender's title ins policy.
But who would pay $ 700,000 + for home without being assured of good title? jm2cts.
{ETA: If BM & SM had executed either of these ^ two documents, and if buyers, title ins co. mortgage lender, et al had been found them acceptable, it's possible BM would not have been forced to seek appt'mt as G'dn thru the ct.}
I welcome comment, clarification, or correction, esp'ly from our professionals here, esp'ly attys, & title ins co employees.
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