My parents have a loan on some land in Kentucky. Both of their names are on the loan. My sister talked my father into signing his half of the land over to her. My mom didn’t know about it and never signed it. Don’t both parties have to sign since both my parents name are on the loan? My mom has been so hurt by my sister after letting her live there. She left Ohio to avoid prosecution from a previous employer for something to do with fraud or theft. My parents are 72 and 74 and have always been there to help us. They are both hurt by her actions, and I am concerned that they will lose their property after paying on it for 20+ years. What can i do?
If anything is to be done here, it would probably be by your parents. Of course, that doesn’t mean you can’t help them.
The first thing you’ll need to do is find out some more details about what happened to the Kentucky property, and how it was held. That will likely let you know how effective the transfer from your father to your sister was.
It will probably help if you have a local attorney who can assist in deciphering the property records for you. And you may want that to be an attorney who specializes in elder law, since there is certainly a possibility that your sister has been engaging in financial elder abuse, here.
These sorts of situations can be difficult to deal with, and depend a lot on the particular individuals involved. An attorney familiar with these types of matters will be able to guide you through the options you have.