Guardianship purchase

What is the name of your state? Ohio. My husband is guardian over his grandfather. And we are trying to buy the grandfathers house. We are told we can not purchase the house, cause he is guardian. Is this right? Also, could my husband sign the house over to himself and then refinance it to them pay for the house to the guardianship account? Thank you, Lacy

[HomeGuru]

[quote]Originally posted by lcornell
[b]What is the name of your state? Ohio. My husband is guardian over his grandfather. And we are trying to buy the grandfathers house. We are told we can not purchase the house, cause he is guardian. Is this right?

**A: no and who told you that?
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Also, could my husband sign the house over to himself and then refinance it to them pay for the house to the guardianship account? Thank you, Lacy

**A: no as he has a conflict of interest. Things must be done the legal and proper way. Consult an attorney.

[JETX]

"And we are trying to buy the grandfathers house. We are told we can not purchase the house, cause he is guardian. Is this right?"
Not exactly. The concern that he should have would be the appearance of this purchase with any future heirs or creditors. If it appears that he violated his fidicuary responsibility as guardian in making the purchase, or that it appears to have been done to avoide creditors, the affected parties could take legal action against him. I would suggest that thjs purchase be done at 'arms length', meaning that it should be at fair market value and COMPLETELY 'above board'.