I have recently agreed to be durable and medical power of attorney for an HIV positive (10+ years) friend. He has been on SS and disability retirement and is very low income. His partner of many years, who shared his home and who was the primary source of income adn responsible for paying the the expenses, left him several months ago with a mound of debts that had gone unpaid for several months. My friend is struggling to make ends meet and I am trying my best to help him. There has been no contact with the former partner, despite repeated attempts.
The problem is that my friend granted a gift special warranty deed (Texas) for consideration of "love and affection" to the former partner ~ 2 years ago, which states the following:
"For Grantor and his assigns, a reservation of the full possession, benefit, and use of the property for the remainder of the life of the Grantor, as a life estate. Grantor retains complete power, without the joinder of any person, to mortgage, sell and convey the property and to spend any proceeds; to exchange it for other property; and to invest and reinvest all proceeds from the sale or other dispostion of the property."
He is under the impression that the deed is irrevocable, but it appears to me that, based on my interpretation of the paragraph above, he retains rights to sell, exchange, or transfer the property as long as he is alive. Since he has been "abandoned", and the taxes (responsbility of the former partner) are now due and will unlikely be unpaid, can he sell it or give it to someone else? He has 1 child, a daughter who resides in a foreign country at this time, and would like to leave it to her. He doesn't have the funds to pay the taxes and many of the other bills that are due/overdue. His income is unlikely even to cover his base needs to maintain utilities and food.
What are his options? All comments and advice are greatly appreciated!
The problem is that my friend granted a gift special warranty deed (Texas) for consideration of "love and affection" to the former partner ~ 2 years ago, which states the following:
"For Grantor and his assigns, a reservation of the full possession, benefit, and use of the property for the remainder of the life of the Grantor, as a life estate. Grantor retains complete power, without the joinder of any person, to mortgage, sell and convey the property and to spend any proceeds; to exchange it for other property; and to invest and reinvest all proceeds from the sale or other dispostion of the property."
He is under the impression that the deed is irrevocable, but it appears to me that, based on my interpretation of the paragraph above, he retains rights to sell, exchange, or transfer the property as long as he is alive. Since he has been "abandoned", and the taxes (responsbility of the former partner) are now due and will unlikely be unpaid, can he sell it or give it to someone else? He has 1 child, a daughter who resides in a foreign country at this time, and would like to leave it to her. He doesn't have the funds to pay the taxes and many of the other bills that are due/overdue. His income is unlikely even to cover his base needs to maintain utilities and food.
What are his options? All comments and advice are greatly appreciated!
