Loss of Real Estate
There are many ways to lose real estate. The most typical manner to lose real estate is by signing it over to someone else who then records ownership at the County Recorder’s Office. Unfortunately, this happens most frequently by a member of the elder’s own family. It’s typically an unemployed and low functioning 40 to 60 year old son or daughter, often with a history of drug or alcohol dependence, who lives with one of the surviving parents at the parent’s home. As the parent’s cognition declines, the child has the parent sign a quit claim deed or forges the parent’s signature on the document. The abuser may promise to provide care till end of life or make some other promise to induce the gift. This type of financial abuse is usually discovered by a normal functioning brother or sister who is busy raising their own families and not involved in the day to day activities of the parent.
To protect against this type of financial abuse stay very involved with the elder. Do not allow them to become isolated. Anticipate incapacitation and appoint a trusted person as power of attorney before the parent becomes incapacitated. Consider making the power of attorney to sell or give away real estate to require the unanimous decision of two or more trusted persons.5 Legal Documents You Need for Your Elderly Loved Ones How Professional Predators Target Seniors
At Elder Protection Center we’re here to take immediate action to protect victims of financial elder abuse. If you suspect someone you love is a victim of a real estate scam or if you have questions regarding their mistreatment – Call Us Now.
At Elder Protection Center, Protecting the People You Love is our number one priority. We’d love to hear from you. Elder Protection Center is standing by for you and your loved ones – Today.