Buying out inheritance

[alittlebitfrench]

My sister and I are sole beneficiaries to my mums house.

My mum has dementia and will probably have to go into a home soon. Not mentally well at all but could last many years. 
 

But that leaves the house and what to do with it.
 

So the question is, can I buy out my sisters half of the house before my mum passes ?

I have no idea how things work in the UK.

[cajal]

Appoint a Power of Attorney. It can be you, your sister or a third party.  Once appointed, the POA is authorised to make legal financial decisions, ie not to the detriment of your mother, and an arrangement can be drawn up as to the ownership or disposal of the property.

[Harnser]

8 hours ago, cajal said:

Appoint a Power of Attorney. It can be you, your sister or a third party.  Once appointed, the POA is authorised to make legal financial decisions, ie not to the detriment of your mother, and an arrangement can be drawn up as to the ownership or disposal of the property.

10 hours ago, alittlebitfrench said:

My sister and I are sole beneficiaries to my mums house.

My mum has dementia and will probably have to go into a home soon. Not mentally well at all but could last many years. 
 

But that leaves the house and what to do with it.
 

So the question is, can I buy out my sisters half of the house before my mum passes ?

I have no idea how things work in the UK.

It's not quite as simple now as how cajal describes it, it was before 2007 when I had an enduring power of attorney over my mother's affairs, the subject has now got much more complicated and has introduced the issue of mental capacity.

For information on POA's explained in plain language see this:- 

 https://www.ageuk.org.uk/globalassets/age-uk/documents/information-guides/ageukig21_powers_of_attorney_inf.pdf

As you will see when you read it - you need to act now while your mother has mental capacity.

Getting a solicitor to assist is probably a good idea, particulary with buying your sister out of her share of the property. 

[Loiseau]

I have recently completed the U.K. Lasting Power of Attorney process. It was quite complex and, when completed, took six months to register. So you need to get cracking on this, while hopefully your mother could still be considered capable of agreeing to hand over control when necessary.

I managed to fill out the forms myself online; the official site was very helpful with hints along the way.

But I guess this will not be possible for your mother to complete herself, so best to get a solicitor to do it - though it will cost more.

 

Here's another useful site giving info  https://www.moneysavingexpert.com/family/power-of-attorney/

 

 

[alittlebitfrench]

Thanks folk for the advice.