Renting out a property

[Spendysis]

Posting here for traffic sorry

I have posted on here before about dsis but so not to drip feed I will cut along story short dsis wanted to do equity release on dm house i refused stating deprivation of assets capital gains tax etc she was also transferring money from dm account to hers via the banking app. Dsis blocked me excluded me from dm life. Had me removed as poa done the equity release mortgage and had dm change her will. Ss and police have been involved and after over a year wait opg are finally investigating

I have just seen that dm house is up to let through a local estate agent dm to my knowledge is still alive but unwell and now living with dsis

Can this be done with an equity release mortgage on the property

Who is the landlord if it's through an estate agent DM is still the legal owner but at 85 hasn't been able to deal with things like this for years although there is questions over whether she has capacity or not she just goes along with what dsis says

Do estate agencies check things like this

Sorry for loads of questions I am a bit shocked and the situation has been very upsetting and I can't believe dsis is and has been able to get away with all this as no doubt the money just like the equity release will end up in her bank account

EA are not required to check. The er company may have put conditions on the title and be required to give permission. The income is taxable too.

The houseowner is the Landlord and will be taxed/have all legal responsibility etc.

Thanks
Dm will not have the understanding of this just like she would never of heard of equity release mortgages nor does she has access to Google etc this why I say all of this is down to dsis

Dsis wont of thought of the tax implications either shes only interested in making a quick buck either to bail herself out of her latest financial disaster or to do up her house or go on holiday she has been like this all her adult life.

I will update the opg not that i think it will make much difference and I doubt the estate agency will be interested as they will just want their fees

It sounds like you're getting frustrated by how slow the OPG are to act OP. However, I think if your sister has done anything that is clearly not in your Mum's best interests, then she is likely to have the POA removed, and be made to return any funds which she has misappropriated. These things obviously take time to be investigated, but as long as you keep in contact with them, and keep chasing them up, then they will be obliged to look into what your sister has been up to.

@RoastDinnerSmellsNice I am frustrated it took a year for my concerns to be passed to an investigator in that time the equity release was taken out and the will changed

The investigator has advised me I won't get any updates or be contacted unless they need further information. It is a bit late to remove dsis as poa now. I have no idea how long dm has left if she is unwell and has had to moved in to dsis and i presume when she passes the opg investigation will stop as there will no longer be a poa

I think in your shoes OP, I would be inclined to contact the OPG and ask them what happens if your parent dies while they are investigating, as at least you will know for sure. I would also speak to the Citizen's Advice Bureau, to see if they can tell you what if anything can be done if your parent dies, and the OPG don't continue with the investigation.

To me, once an investigation has been instigated, it would be most unreasonable for it to be stopped just because the person who the LPO is over has died, as presumably misappropriation of funds, in this sort of situation is theft, but I'm not an expert in these things, so I think getting legal advice is the best way to go.

I'm so sorry that you're going through this OP, as there is nothing worse that thinking that an elderly parent is being taken advantage off, and sadly, I think it probably happens all too often.

Well it seems dsis as poa can rent the property if dm doesn't have capacity according to opg which is confusing as ss and police claimed she had capacity although they seemed unsure. They will be looking to see if the money ends up to dsis but as she will be aware she is being investigated she will have probably have stopped just transferring money into her own account now. No idea if they are still looking into this as they didn't mention it and this is the first reply I've ever had

The house is now on right move looking lovely but completely empty which makes me sad as it was my childhood home some of my things were still there ornaments I'd either bought or been given but dm still had in display no doubt they will have been binned or sold.

Luckily dd took the diaries dm wrote for each of them from when they were born until dd was 18 it tailed of for ds so his goes to around 15 and the photograph albums she made for them over the years or they would of probably have gone as well I think that was probably the last time dm invited me into the house. I presume it annoyed dsis dd taking them but no idea why she would want them as she has blocked both my dc as well and there are other family albums these were done especially for dc

Most of that sounds like good news OP, as it does sound like your sister is being investigated, and if she has misappropriated funds, she will be made to pay them back.

Did you contact them for this information, or did a letter arrive out of the blue, as if it did, it's an amazing coincidence. Did you find out if they will continue to investigate, if your Mum dies while the investigation is ongoing? If not, then I would, as I'm sure you feel the need to know what will happen, if that does occur.

Sorry, forgot to say that I'm glad that your DD at least got the photos, and diaries, as these are the things that we all treasure after our parents have gone.

@RoastDinnerSmellsNice I emailed opg and the investigator replied to my email that dsis is able to rent the property out but obviously the concern is where the money goes. She has said if I have any concerns to contact the estate agent and she is happy to speak to the directly

I emailed the estate agent advising them there is an ongoing investigation and the ref number and name of the investigator nothing more just

I have now had the police on the phone my dsis received a letter from the estate agent no idea what it said and she has logged it with the police it was just an informal chat and everything has been closed with them but what a joke

The Equity Release company would have had to give permission for the rental.

@Nanny0gg thank you I've never rented or rented a property out so wasn't aware if the mortgage company needed to be advised

You would definitely have to tell the mortgage company it is being rented out, OP because it would mean a Buy to Let mortgage. But perhaps your sister has done that when she arranged the mortgage.
I don't know how she could unilaterally remove you from sharing POA?

@Whitelight25 when I say dsis removed me as poa I mean she has convinced dm to have me removed. It will have been dsis who has arranged it dm won't have bothered to did out the original paperwork doesn't have internet access to go online and request the forms or find the phone number to ring. It will have been dsis as she wanted to do the equity release mortgage and I was questioning missing money from dm

Dsis friend also advised her when poa is registered with the bank all poa get notified when there is a transaction made on the account and dsis wouldn't have wanted me to see her still transferring money from dm account to her own

What a nightmare.

@Whitelight25 it is a nightmare. At times I wished I had just agreed to go ahead with the equity release mortgage just didn't want to get in bother if dm needed care in future etc and wish dm had never asked me to take her to the bank for her statements which i didn't see she told me the amount of money that dsis had transferred over a 6 month period

I have not only been financially screwed over me and dc don't have any relationship with dsis or dm they are dm only grandchildren not mention family friends who have believed whatever lies dsis has told them as to why we are nc because it definitely won't be the truth and they have never asked for my side of the story

And to top it off I am the one who got called by the police that my dsis reported me for emailing the estate agent to advise them there was an opg investigation and pass on the investigator details which is what the investigator advised me to do. Yet my dsis can happily transfer money out of dm account pocket the money from the equity release mortgage isolate an elderly vulnerable old woman from the rest of her family and gets away with it

How the hell anyone can do all this to their only sister and only niece and nephew and of course dm is beyond me