LPA - transfer / sale of property interest

(justinwallace) #1

A, B & C have substantial property interests. A has granted and registered an LPA in favour of B & C. A no longer has capacity. B & C wish to take out borrowing against a property co-owned with A in order to finance another commercial purchase in the names of B & C. They realise they cannot do this and propose transferring to A a share of another unencumbered property in return for A’s interest in the property that B & C wish to borrow against. A RICS valuation has been obtained.

I cannot see that A is losing out financially but feel uneasy about the proposals given that B&C are so intrinsically involved.

Forum members views appreciated!

Justin Wallace
Brewer Harding & Rowe