several years ago my father and brother purchased a property as joint tenants, my father paying 40% in cash and my brother borrowed 60% with a mortgage against the property. It was intended they bought the property as tenants in common, however put joint tenants on the sale contract.
Recently my father who is 85 years old verbally agreed to sell his share to my brother. (who had enduring power of attorny for my father). The property was valued at 490,000 and the half share of 245,000 was the stated price on which my brother paid stamp duty. When my father moved close to md I found out that he had only received 76,000 from the sale. Inquiries with the solicitor acting for my brother show on the final settlement statement that of the approx 490,000 advanced to my brother by the bank, 355,000 was paid to pay out my brothers mortgage to another bank, 76,000 to my father, and approx 59,000 back go my brother.
The solicitor stated that he was only acting on behalf of my brother and only did as he was instructed by my brother. The solicitor does not have any documentation to account for the difference between the sale price and the 76,000 received, nor does he have a sale contract or agreement. My father believed the solicitor was acting for them both.
My question is
1.how can a sale go ahead without documentation showing how my father ended up with only 76,000 (centrelink will want to know)
2. Should the solicitor have something signed by by father acknowledging that my father was acting on his own behalf. (is there a duty of care or like)
3.
Recently my father who is 85 years old verbally agreed to sell his share to my brother. (who had enduring power of attorny for my father). The property was valued at 490,000 and the half share of 245,000 was the stated price on which my brother paid stamp duty. When my father moved close to md I found out that he had only received 76,000 from the sale. Inquiries with the solicitor acting for my brother show on the final settlement statement that of the approx 490,000 advanced to my brother by the bank, 355,000 was paid to pay out my brothers mortgage to another bank, 76,000 to my father, and approx 59,000 back go my brother.
The solicitor stated that he was only acting on behalf of my brother and only did as he was instructed by my brother. The solicitor does not have any documentation to account for the difference between the sale price and the 76,000 received, nor does he have a sale contract or agreement. My father believed the solicitor was acting for them both.
My question is
1.how can a sale go ahead without documentation showing how my father ended up with only 76,000 (centrelink will want to know)
2. Should the solicitor have something signed by by father acknowledging that my father was acting on his own behalf. (is there a duty of care or like)
3.
