Legal Question in Real Estate Law in New York
I curnetly have power of attorney over my elderly parent who owns an income proucing house. Problem is th ehouse is currenty not proucing come ue to mismanagement of my sister who also lives in an apatment with in the brownstone. An additional apt i curretly vacant. I have allowed my sis to run the house as I am out of state however it s being mis managed. Which is effecting care of my mother ue to finance issues. What is the best way to take control of the house where my mother can benefit financially. My sis wil not respect my power of Attorney and pay rent or provide records of rent paid when the house had a tenant or supposed expenses paid out by her. The house is currently in our moms name so the taxes are lower. Is it better to get a dee transfer pros and cons. or add my name as a life estate in the event my sis coherses my mom into a new POA with her.
1 Answer from Attorneys
This is a tough problem, especially when dealing with family. Your sister is probably upset since you are out of state and she is dealing with Mom, yet you have the power of attorney. You are probably upset since your sister may be mistreating Mom and certainly mistreating the finances.
It is hard to give an answer to your question since I do not have facts like (1) your mother's mental state, (2) how many brothers or sisters you have, (3) your sister's mental state, (4) what your mother's wishes are. However, generally I try to have a client in this situation have a family meeting to voice issues and hopefully create a plan to deal with the parent.
Mike.
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