Posted by John Merchant on November 08, 2002 at 10:30:11:
This is one where I’d want my attorney working with me from day one.
It could be a terrific bargain deal, but unless you dot your i’s now, it could sure sour if or when her family later accuses you of taking advantage of an old, sick person.
So get your lawyer involved right now so you get all the documentation needed, get everybody’s signature needed, with witnesses, everything done just right, so you can rest easy that you’ve left no loose ends that could pop up and bite you later.
Posted by JCinIL on November 07, 2002 at 21:49:27:
I have a potential deal that involves an infirmed posssibly incapacitated owner. She is in an assisted living facility in Illinios and they have limited guardianship of them. The house is in pre-foreclosure and the taxes are overdue. My question is does the home have right to act as guardian over a patient after she comes into the facility? Second the house is in a land trust, how would this affect the sale.