How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Buachaill Your Own Question
Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10594
Experience:  Barrister 17 years experience
53108719
Type Your Law Question Here...
Buachaill is online now

My wife's uncle is now 87 and is vulnerable. He had very

Resolved Question:

My wife's uncle is now 87 and is vulnerable. He had very little education and is intellectually retarded although held a full time job for many years. He owns his own house. In 1998, possibly under a power of attorney (we are trying to find out) one or more of his relatives mortgaged his house against his will or without his full understanding. The mortgage was a Shared Appreciation Mortgage with RBS. A further withdrawal was made in 2004. We do not believe any of the money was spent on the house or given to my wife's uncle but was taken/spent by the individual(s) involved. Has a crime been committed? What is the situation with the Statute of Limitations-Limitations Act of 1980? Can action be taken against the bank? My wife's uncle is not aware of the situation. We became aware recently by obtaining a copy of the deeds.
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.

1. The first thing you should know is that there is no time limit under the Limitation Act, 1980, on fraud. What occurred here was both a criminal act of fraud and a civil wrong of fraud. Essentially, the holder of a Power of Attorney is not allowed under law to benefit from their position or to take any personal benefit from holding a Power of Attorney. Accordingly, even if these two unnamed people held a Power of Attorney, they committed a fraud by benefitting from its exercise in their favour. There will be a full range of remedies available to obtain restitution of the funds they misappropriated.

Expert:  Buachaill replied 1 year ago.

2. However, you should realise that there most likely won't be a cause of action against the bank. So long as the bank acted in accordance with a Power of Attorney, they will not incur a liability. Whilst the loan monies were ostesibly advanced to a vulnerable individual, the bank would need to know they were not for him in order that they would be made liable. However, you need to get the relevant documents from the bank to see what in fact happened.

Expert:  Buachaill replied 1 year ago.

3. Please Rate the answer as unless you rate the answer your Expert will receive no payment for answering your question.

Buachaill and 3 other Law Specialists are ready to help you