If a title for a property establishes an individual as Power of Attorney (POA) in addition to the primary owner's name and the owner becomes deceased, how does that effect the transfer of the property? Does the POA supersede the need for the determination of the heirs and inheritance matters (I.E.-changing the title) OR does the POA only have the authority for the individual to assist in the matter for the sale of the property but must complete all inheritance matters prior? In other words, can the buyer be absolved from inheritance issues of the deceased since the deceased established a 3rd party (POA) on the title? Confusing. Thanks for your response.
- Thread starter AndyGriffith
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Title...POA...& Inheritance Questions....
Lol
No matter what you do, one or more lawyers will end up with all your property. If you have a will, you risk being murdered by your heirs or by people who are angry with you for not leaving you their property. Corporations offer no solution. The lifelong employee you put down as VP will claim everything. Your trusted surveyor will go to work for himself. The solution? Don't own anything in the DR except, maybe, your home. Sell your business as soon as possible and invest your money somewhere offshore. Give your family their inheritances while you are still alive. Gold is good.If a title for a property establishes an individual as Power of Attorney (POA) in addition to the primary owner's name and the owner becomes deceased, how does that effect the transfer of the property? Does the POA supersede the need for the determination of the heirs and inheritance matters (I.E.-changing the title) OR does the POA only have the authority for the individual to assist in the matter for the sale of the property but must complete all inheritance matters prior? In other words, can the buyer be absolved from inheritance issues of the deceased since the deceased established a 3rd party (POA) on the title? Confusing. Thanks for your response.
The POA DOES NOT supersede the need for the determination of the heirs and inheritance matters. According to the Dominican Civil Code, POA's cease to be valid with the death of the grantor (art. 2003 CC).
POA does not mean diddley squat?
Very diplomatic answer, Fabio.
The POA DOES NOT supersede the need for the determination of the heirs and inheritance matters. According to the Dominican Civil Code, POA's cease to be valid with the death of the grantor (art. 2003 CC).
Very diplomatic answer, Fabio.
Thank you for your response, Mr. Guzman. I have an additional question that has arisen and I greatly appreciate your input on the matter. If the Inheritor pays the inheritance tax and files the determination of heirs, but only establishes a new separate POA agreement with the individual listed on the Title as duly representing the deceased, is it possible for the Inheritor to sale the property in this manner without having to first change the Title directly into their name? Will the Registry have a problem with changing the Title into the Buyer's name if the Inheritor's name is not first on the Title or does the filing of the determination of heirs and payment of inheritance tax by the Inheritor satisfy the requirement to transfer the property?
Very diplomatic answer, Fabio.
This is not only here. This is the case in almost all countries. Power Of Attorney dies along with the grantor! A POA cannot outlive the person who granted it. That just would not make sense that is why you have a will which states your wishes.
Yes DMV that is true about the Grantor...But you wouldn't know about my 2nd question in terms of the Inheritor-Title and disposition of a property?
If the Inheritor pays the inheritance tax and files the determination of heirs, but only establishes a new separate POA agreement with the individual listed on the Title as duly representing the deceased, is it possible for the Inheritor to sale the property in this manner without having to first change the Title directly into their name? Will the Registry have a problem with changing the Title into the Buyer's name if the Inheritor's name is not first on the Title or does the filing of the determination of heirs and payment of inheritance tax by the Inheritor satisfy the requirement to transfer the property?
Thanks DMV, My problem is trying to understand whether the Heir needs to actually change the name of the Title into their name....OR....can they sale the property with just filing the determination of heirs, paying the inheritance tax and a new POA with the same individual who is set as POA on the current unchanged Title with the deceased. Confusing.
If the Inheritor pays the inheritance tax and files the determination of heirs, but only establishes a new separate POA agreement with the individual listed on the Title as duly representing the deceased, is it possible for the Inheritor to sale the property in this manner without having to first change the Title directly into their name? Will the Registry have a problem with changing the Title into the Buyer's name if the Inheritor's name is not first on the Title or does the filing of the determination of heirs and payment of inheritance tax by the Inheritor satisfy the requirement to transfer the property?
Instead of just reposting the same confusing question - change it to reflect what you know.
Does the heir need to change the title of property to reflect new owner before selling the property? Can the New Owner assign a POA to sell property without changing the title?
Does the heir need to change the title of property to reflect new owner before selling the property? Can the New Owner assign a POA to sell property without changing the title?
The answer is yes. Title has to be transferred to the heirs before being transferred to the seller.
However, this does not mean that the heirs have to wait until they have the title in their name in hand in order to sell. Many times the buyer and his/her attorney will proceed with the purchase after a thorough review of the matter and file simultaneously both the determination of heirs and the purchase contract in the Land Court. The Court will then order the Registrar to convey the property first to the heirs and then to the buyer.
However, this does not mean that the heirs have to wait until they have the title in their name in hand in order to sell. Many times the buyer and his/her attorney will proceed with the purchase after a thorough review of the matter and file simultaneously both the determination of heirs and the purchase contract in the Land Court. The Court will then order the Registrar to convey the property first to the heirs and then to the buyer.