Legal Question in Real Estate Law in Michigan
Quit claim deed
My wife and I own property adjoining my wifes's mother's property. Mom is now in assisted living care and is out of money. We want to purchase the property assesed at $95,000. The house is a tear down, which the property value according to the assesor's office is then worth $ 50,000. I don't want the state to come back on me if we don't immediately remove the house. Can I pay her estate $50,000 ? My wife has power of attorney for a quit claim deed.
1 Answer from Attorneys
Re: Quit claim deed
It will look questionable if the person holding the power of attorney transfers property to themselves. If the mother is not competent to understand matters, this adds to the question. If she is competent, then the power of attorney is likely not invoked and your wife would not have authority to do anything. Thus, in order to use the power, the mother would have to be incompetent to make decisions. To err on the side of caution, you should petition the court for this authority as is the case with conservator's who want to dispose of property.
If you have further questions, please contact me via my website at www.lawrefs.com.
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