My husbands mother is in a home with Alzheimers. They have recently sold the house. the hous was in 3 names, 1) mother-Marie, 2) brother-Scott and 3) brother -Mike.Scott has POA on the Mom.Do the proceeds of the sale of the house belong solely to the Mother or can it be split 3 ways as the house is in 3 names?Scott has indicated that he asked someone and was told that it is a breach of Trust to split the monty 3 ways..is this true?
Province/Territory relating to question: Ontario
the funds from teh sale of teh house sre going onto the Moms account on Friday...
I have told my husband to ask Scott who he was talking to and get a second opinion..
The mother has more than enough money in her bank account to last her however long she lives and for future care or needs..
Yes it is.
The house is the mother's.
It was put in the children's names for estate planning purposes and not for ownership while she is living.
To sell the house or make any decision that benefit the attorney under the POA or any and not the mother is prohibited.
That money is for the mother's care and use until she dies.
I hope that helps.
It doesn't matter how much money she has.
It's fraud to take her money because she is incompetent.
It's not legally possible.