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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55593
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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My father who is 82 and has noticeable competency issues is

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My father who is 82 and has noticeable competency issues is working with a real estate agent to sell a very valuable piece of commercial property. Myself and my siblings believe he is being taken advantage of. The offer to purchase is far below the value of the property. Is there anything myself and my siblings do? My father believes he is quite capable of making his own decisions....
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. If there are noticeable competency issues, and especially if his lack of competency is manifesting itself in considering a sale for much less than its fair market value, then you will want to file a petition in family court to have him declared incapable of managing his affairs. I know it seems harsh, but there comes a difficult time in all of our lives where we are faced with this situation with our parents. Otherwise, he will have the legal authority to enter into this transaction. It's always hard to ascertain exactly when to force this issue, but if your dad is clearly making such a poor choice and will not voluntarily agree to allow someone else to help him with these type decisions, you really have no choice but to step in to file this petition in order to protect him.

This is the part of my job I don't like...when the law is not in favor of my customer. I wish there was an easier solution, but, I can only provide you information based on the law so that you can act on the best available information to you. ………..I wish I had better news, but can only hope you recognize and understand my predicament and don't shoot the messenger. I'm sorry!

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Customer: replied 4 years ago.

Does the real estate agent have any responsibility in enter into a contract with some one who obviously has competency issues? Do I have any recourse if the deal goes through and soon after my father is deemed not competent?

Thanks so much for following up. It's going to be difficult unfortunately to pursue the realtor because it's not the realtor's duty to determine his competency. But, if the realtor gives him advice that is obviously inaccurate, both the realtor and the realtor's broker could be sued. You might want to seek an injunction to stop this sale pending a competency hearing as it's difficult to put the toothpaste back in the tube if the sale occurs first.
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