I have and acreage that belongs to me and my 3 minor children. I would like to sell.

Kelli Bridges
Home Seller
Kamay, TX

Would I be considered the POA for my children in order to sell?

Answers (4)
Margaret T Hatc...
Agent
Montgomery County, TX

Kelli,
Yes you need legal advise on the sale, but you may need more than just the answer to this question .
If it was deeded to you , given to you or you received it anyway other than a purchase with a title policy.
I have attempted to sell some of this property for my sellers and we run into title problems from past owners and their heirs. How do I solve this problem now.
A contract from the seller( your self ) to "To be determined" fpr a set amount. Open title , You will pay the money to open title, ( not much when you think of what you are doing) . The title will be searched and you will find out how to handle the children and if the property is salable at this time or if there or other leins that have to be removed.
Contact a local realtor and have them contact me if they do not understand.

Wed Jan 14 2009, 08:50
Lynn911.com Dal...
Agent
Dallas, TX

Confer with a real estate attorney how did you obtain this property, willed, divorce, death of your spouse, you purchased, in trust. life estate? Without those answers difficult to state on direction you should take in order sale the property. Attorney will confirm all transactions taken will protect you in future of any lawsuit against your children, NEXT QUESTION what happens to proceeds of sale property does it go into a trust fund for your children that cant be touched? You may have to speak with CPA after property sales

Web Reference: http://www.lynn911.com
Wed Jan 14 2009, 06:24
Laura Parris
Broker
Georgia

Bill is right. There are several issues that need to be resolved. Are you widowed or divorced? If widowed did you file for 'support' through the state for minor children? If you did get support from the state the process would be handled differently. The children would be assigned, by the court, a guardian to look after their interest in the property. In my dealings with similar issues, half of the proceeds would be put into a trust fund for the minor children. As you can see there are quite a few details that will affect a sell in this case. Please contact an attorney to protect you and the children.

Wed Jan 14 2009, 04:48
Bill Eckler-Flo...
Agent
Venice, FL
FIRST ANSWER

Kelli,

You have a legal issue best responded to by an attorney. It's always best to be certain your information is reliable.

Good luck

Wed Jan 14 2009, 04:40

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