Should I continue to exercise the POA in this instance?

[OK-LL]

What is the name of your state (only U.S. law)? OK

I have a durable POA authorizing me to transact real estate from an elderly individual living in CA. His wife and son tell me he is suffering from Alzheimers. I have listed some of his OK real estate for sale and actually signed a purchase contract with a Buyer. In the last couple days he has called me saying he does not want to sell the property. When it was originally listed, he was all for it. His wife (joint tenant) wants to sell. His son also has a POA from him and is instructing me to continue with the sale. How should I proceed? I'm troubled whether his direct instruction not to sell is overshadowed by his alleged illness. Should I ask for evidence of the diagnosis or does that even come into play?

 

[STEPHAN]

I would consult a lawyer to protect myself.

 

[LdiJ]

What is the name of your state (only U.S. law)? OK

I have a durable POA authorizing me to transact real estate from an elderly individual living in CA. His wife and son tell me he is suffering from Alzheimers. I have listed some of his OK real estate for sale and actually signed a purchase contract with a Buyer. In the last couple days he has called me saying he does not want to sell the property. When it was originally listed, he was all for it. His wife (joint tenant) wants to sell. His son also has a POA from him and is instructing me to continue with the sale. How should I proceed? I'm troubled whether his direct instruction not to sell is overshadowed by his alleged illness. Should I ask for evidence of the diagnosis or does that even come into play?

I would run it by a local attorney. I can see potential problems no matter which way this unfolds. If the elderly individual has only mild Alzheimer's there can be trouble on that end if you do not follow his wishes. However, since you have a valid purchase contract there can be trouble from the buyers if the sale does not complete.

 

[justalayman]

As you said yourself; his alleged illness. Until you know he has Alzheimer's and it actually plays a part here (severe enough to be able to rule him mentally incompetent), your authority to act is only what the principal gives you. If he now says no, it's no until you investigate further. People do change their mind.

 

[OK-LL]

Thanks for your comments. I've asked the family for evidence of the principal's diagnosis and condition (doctor's statement). Once I have that in hand, I'll have a better idea of what action to take. I have alerted my Realtor and suggested that if necessary, we can substitute other properties acceptable to the Buyer (this is the sale of a group of condos in one condo community).