My grandma and grandpa years ago gave my uncle power of attorney. After he became POA he took out a mortgage on their home and did not notify anyone of this. Prior to this their home was paid off. My grandma died recently and in her will her request was to sell the home and split it between her children. There is about 100,000 more owed on the home than it is worth. If her will says to sell does it need to be sold? No one has the 100,000 to pay the difference of the sold price and the amount owed.
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You must immediately consult with an attorney specializing in elder finance, POAs, elder care & abuse and learn what alternatives you have in this sad situation. Appears the nephew has the responsibility to report all legal and financial moves he has made in connection with your grandparents and may face criminal charges, as well. This will, unfortunately, be a difficult and emotional road for all involved.
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