Lasting Power of Attorney and Legal ownership of Property

A has a Property and Financial LPA appointing B and C as her attorneys with joint and several authority. A, B and C are legal owners of the property in which A resides. The beneficial shares in the property are held as to 50% to A. A has a life interest in the other 50% and subject to this B will be the remainderman.

If A were to lose capacity, would B and C alone be able to convey the property to a buyer?

Evelyn Barker
Joanne Ball Solicitor

Yes, if B and C sign for themselves and either (or both) sign as attorney(s) for A, the “two trustee” rule will be complied with – see s.7 Trustee Delegation Act 1999.

Paul Saunders FCIB TEP

Independent Trust Consultant

Providing support and advice to fellow professionals