You may own or know someone who owns property jointly with an individual who is becoming confused and subsequently lacking the capacity to manage their financial affairs.
In such a case, you may be appointed deputy for an individual who owns property with another person.
It may become necessary to sell that property if:
– Either, the co-owner would like to move to an alternative property or
– If the co-owner is deceased or
– If it is necessary to sell the property for any other reason.
Where two or more individuals own a home or land together and one or more of those owners lack the capacity to manage their financial affair, then they will not be able to sign any legally binding documents in relation to that property should they not have an attorney to act on their behalf.
Owners are termed the ‘trustees’ of the land or house which they own and if that property needs to be sold an application will need to be made to the Court of Protection requesting an order for another individual to take the place of the incapable trustee(s).
The individual appointed can then sign any necessary documents related to the property sale on behalf of the trustee who lacks capacity.
Where a deputy has already been appointed to manage the affairs of a person lacking capacity, if the incapable person owns property jointly with another person, a separate application will still need to be made to the Court for the Deputy to be able to act in any sale of the property, as a trustee. This is because the roles of deputy and trustee are distinct from one another.
Furley Page’s Elderly and Vulnerable client team is extremely experienced in making these types of applications to the Court of Protection. We can work closely with our Residential Property team to make sure the sale of property or land is managed expertly and sensitively.