Millard Properties: Locations and Ownership

[Alethea Dice]

Doesn't she have power of attorney? That means she could sell without his further input.

That would depend on the type of power of attorney he signed over to her - general or specific.

http://wiki.lawdepot.ca/wiki/Power_of_Attorney_FAQ_-_Canada#What_is_a_power_of_attorney.3F

If he gave her a general POA so that she could do anything at all, then it could be totally her own decision. But that would also mean that he didn't necessarily sell those three properties to her for $1 each either. That was done 6 days after he gave her the POA, so by the same argument, that too could have been her decision alone.

http://metronews.ca/news/toronto/695242/dellen-millard-land-deals-beyond-smelly-experts-say/

JMO

 

[SnooperDuper]

That would depend on the type of power of attorney he signed over to her - general or specific.

http://wiki.lawdepot.ca/wiki/Power_of_Attorney_FAQ_-_Canada#What_is_a_power_of_attorney.3F

If he gave her a general POA so that she could do anything at all, then it could be totally her own decision. But that would also mean that he didn't necessarily sell those three properties to her for $1 each either. That was done 6 days after he gave her the POA, so by the same argument, that too could have been her decision alone.

http://metronews.ca/news/toronto/695242/dellen-millard-land-deals-beyond-smelly-experts-say/

JMO

I found a document on Power of Attorney in Ontario and it seems that MB could do pretty much anything, unilaterally, the moment the document was signed. This document describes the types of Power of Attorney in Ontario as follows:

Are there different kinds of Power of Attorney?

Yes. In Ontario there are three kinds of Power of Attorney:

A Continuing Power of Attorney for Property (CPOA) covers your financial affairs and allows the person you name to act for you even if you become mentally incapable.

A non-continuing Power of Attorney for Property covers your financial affairs but can’t be used if you become mentally incapable. You might give this Power of Attorney, for example, if you need someone to look after your financial transactions while you’re away from home for an extended period of time.

A Power of Attorney for Personal Care (POAPC) covers your personal decisions, such as housing and health care.

What powers will my attorney have?

Unless you restrict your attorney’s powers, he or she will be able to do almost anything that you can do concerning your finances. Your attorney can sign documents, start or defend a lawsuit, sell property, make investments and purchase things for you. Your attorney cannot, however, make a Will or give a new CPOA on your behalf.

If I change my mind, how can I cancel my CPOA?

To cancel your CPOA you must state in writing that you are “revoking” it. There is no special form for this statement, which is referred to as a “revocation”, but it must be signed and witnessed by two people, the same way as your Power of Attorney.

This is quite a significant document and there is much more info in it but that's the gist of it.

http://www.attorneygeneral.jus.gov.on.ca/english/family/pgt/livingwillqa.pdf

 

[SnooperDuper]

Well reading that document is kind of stunning. I could have a buddy that was going to be out of town for a couple of months that was worried about his affairs and I could suggest, hey, no problem, I could be your Attorney.

I could go online and print out a form, and with no lawyers or paralegals or any kind of professional at all involved, I could get my buddy to sign that form and give me Power of Attorney.

If he did not understand the powers of this document and laid down no conditions, my powers would be sweeping the second the form was signed and witnessed. I could empty his bank accounts and redeposit all of the money in my own name, sell all of his investments and reinvest in my own name, sell all of his cars, personal effects, property (or transfer ownership of the same to me), all while buddy was away and unaware.

There is no central registry of these documents. If my buddy returned and wanted to undo all that I had done, first he would have to write up a revocation and then hunt me down and get that original paperwork off of me to prevent me from continuing to use it (as with no central registry, banks and courts have no record of what documents are out there and current).

He could only demand an accounting of what I had done, and then he would have to get a lawyer and sue me if he felt that my actions did not reflect my wishes. Good thing I left him with no money with which to hire a lawyer.

Moo, is this accurate?

 

[SnooperDuper]

On the day after his May 10 arrest, Millard, 27, hastily signed over power of attorney to his mother, Madeleine Burns, from the Hamilton-Wentworth Detention Centre, public records obtained by the Star show.

Millard signed the May 11 document alongside Paradkar.

On the same day, police announced the discovery of Tim Bosma’s 2007 Dodge Ram pickup truck parked inside a trailer belonging to Millard on the driveway of Burns’s Kleinburg home.

http://www.thestar.com/news/crime/2013/06/05/millard_land_deals_beyond_smelly_experts_say.html

I guess DP was there to make sure there were provisions to ensure his fees were paid.

 

[Alethea Dice]

I found a document on Power of Attorney in Ontario and it seems that MB could do pretty much anything, unilaterally, the moment the document was signed. This document describes the types of Power of Attorney in Ontario as follows:







This is quite a significant document and there is much more info in it but that's the gist of it.

http://www.attorneygeneral.jus.gov.on.ca/english/family/pgt/livingwillqa.pdf

Yes, she could. IF he gave her a Continuing POA and with no restrictions. (Again, general or specific.)

Unless you restrict your attorney’s powers, he or she will be able to do almost anything that you can do concerning your finances.

There isn't anything in there about a Non-Continuing POA. However....

1. Non-continuing power of attorney for property
This is used in specific situations for a specific length of time (for example, when you’re out of the country). You outline the specific tasks your attorney is allowed to do on your behalf, and for how long.

http://www.getsmarteraboutmoney.ca/en/managing-your-money/planning/wills-and-estate-planning/Pages/Types-of-power-of-attorney.aspx#.U-45pvldX-s

I would think, in his situation, he would have given a Non-Continuing POA to handle his affairs while he is in jail. If found guilty, he could then change it to a Continuing POA.

JMO

 

[Alethea Dice]

http://www.thestar.com/news/crime/2013/06/05/millard_land_deals_beyond_smelly_experts_say.html

I guess DP was there to make sure there were provisions to ensure his fees were paid.

I'm thinking he was there to help with the details of the POA.

Do I have to use a lawyer to make my Powers of Attorney or “living will”?
The law does not require you to use a lawyer’s services. However, you may wish
to consider hiring a lawyer, especially if your affairs are complicated.

http://www.attorneygeneral.jus.gov.on.ca/english/family/pgt/livingwillqa.pdf

JMO

 

[Alethea Dice]

Well reading that document is kind of stunning. I could have a buddy that was going to be out of town for a couple of months that was worried about his affairs and I could suggest, hey, no problem, I could be your Attorney.

I could go online and print out a form, and with no lawyers or paralegals or any kind of professional at all involved, I could get my buddy to sign that form and give me Power of Attorney.

If he did not understand the powers of this document and laid down no conditions, my powers would be sweeping the second the form was signed and witnessed. I could empty his bank accounts and redeposit all of the money in my own name, sell all of his investments and reinvest in my own name, sell all of his cars, personal effects, property (or transfer ownership of the same to me), all while buddy was away and unaware.

There is no central registry of these documents. If my buddy returned and wanted to undo all that I had done, first he would have to write up a revocation and then hunt me down and get that original paperwork off of me to prevent me from continuing to use it (as with no central registry, banks and courts have no record of what documents are out there and current).

He could only demand an accounting of what I had done, and then he would have to get a lawyer and sue me if he felt that my actions did not reflect my wishes. Good thing I left him with no money with which to hire a lawyer.

Moo, is this accurate?

First of all, your friend would have to be a complete idiot to do this.

Second, if he finally wizened up and realized what you had done, he would send copies of his revocation to everyone involved in his assets - his bank, income sources, register it on title of any of his properties. That would effectively stop what you're doing before he gets the original paperwork from you.

Third, he would report it to the police and you would be charged with theft. I don't think redepositing all his money into your own account in your name would qualify as managing his affairs.

JMO

 

[SnooperDuper]

So really, the POA was the first thing that DM did in custody after enduring nearly 24 hours of questioning:

The day police arrested Millard [May 10] remains vivid in its retelling.

He woke up early to meet an accountant at his Waterloo Region-based aviation business, Millardair, an empire he inherited from his late father and grandfather.

http://www.thestar.com/news/gta/201...didnt_kill_tim_bosma_exclusive_interview.html

[P]olice tailed Mr. Millard for at least four hours before arresting him and later charging him with forcible confinement, theft over $5,000 and, eventually, first-degree murder.

http://www.theglobeandmail.com/news...arged-with-killing-tim-bosma/article12009016/

Two hours later, while he was driving home, Millard says he was rear-ended as he idled at a red light. When he got out of the car, he saw more than a dozen people — plain-clothed officers with protective vests — pointing guns at him.

http://www.thestar.com/news/gta/201...didnt_kill_tim_bosma_exclusive_interview.html

Dellen Millard [...] was interrogated by police for almost 24 hours by officers desperately searching to find Tim Bosma.

During the intense questioning overnight Friday [May 10] and into Saturday afternoon [May 11], Mr. Millard, 27, of Toronto, exercised his right to remain silent, said his lawyer, Deepak Paradkar.

http://news.nationalpost.com/2013/0...-in-case-of-missing-ontario-father-tim-bosma/

Police did not announce an arrest until Saturday afternoon [May 11]. By then, Mr. Millard had been in custody since Friday afternoon [May 10].

http://news.nationalpost.com/2013/0...-in-case-of-missing-ontario-father-tim-bosma/

Millard signed the May 11 document alongside Paradkar.

http://www.thestar.com/news/crime/2013/06/05/millard_land_deals_beyond_smelly_experts_say.html

 

[Alethea Dice]

So really, the POA was the first thing that DM did in custody after enduring nearly 24 hours of questioning:



http://www.thestar.com/news/gta/201...didnt_kill_tim_bosma_exclusive_interview.html



http://www.theglobeandmail.com/news...arged-with-killing-tim-bosma/article12009016/



http://www.thestar.com/news/gta/201...didnt_kill_tim_bosma_exclusive_interview.html



http://news.nationalpost.com/2013/0...-in-case-of-missing-ontario-father-tim-bosma/



http://news.nationalpost.com/2013/0...-in-case-of-missing-ontario-father-tim-bosma/



http://www.thestar.com/news/crime/2013/06/05/millard_land_deals_beyond_smelly_experts_say.html

Yup. Pretty sure by then, regardless of guilt or innocence, he knew he was in a heap of trouble and going to need some help. He wasn't exactly capable of handling his own affairs and paying a lawyer ongoing fees without someone on the outside to make the needed cash available. Once arrested, he wouldn't have easy access to a phone or computer to do the necessary transactions himself.

JMO

JMO

 

[Variant]

Yup. Pretty sure by then, regardless of guilt or innocence, he knew he was in a heap of trouble and going to need some help. He wasn't exactly capable of handling his own affairs and paying a lawyer ongoing fees without someone on the outside to make the needed cash available. Once arrested, he wouldn't have easy access to a phone or computer to do the necessary transactions himself.

Lawyers I know will use property as collateral to ensure payment. I haven't heard of another case where the accused liquidated their property up front, in such haste, well before the trial. Anyone seen this happen before?

Why sell everything? If I were DP I would be worried about this (unless I had guaranteed access to the cash); maybe that is why the Riverside property is still in DM's name.

 

[Alethea Dice]

Lawyers I know will use property as collateral to ensure payment. I haven't heard of another case where the accused liquidated their property up front, in such haste, well before the trial. Anyone seen this happen before?

Why sell everything? If I were DP I would be worried about this (unless I had guaranteed access to the cash); maybe that is why the Riverside property is still in DM's name.

That's a good question. I've never followed a case before where the accused, who was facing about 3 years in jail before even getting to trial, actually had any such assets.

JMO

 

[MsSherlock]

That's a good question. I've never followed a case before where the accused, who was facing about 3 years in jail before even getting to trial, actually had any such assets.

JMO

Variant brings forward a very valid point. The rapid liquidation of DM's assets raises a lot of questions. Some have said it was because MB had enough things on her plate- she certainly didn't need to be a property manager. Others have pointed out that DM's cash was on the move, and was becoming untraceable in the event that civil action followed. Considering property value increases in the GTA, having real estate assets would be a much better investment than the normal GIC.
IMHO, with WM dying in late 2012, his estate probably wasn't finalized when DM was arrested. At the time of DM's arrest, WM was still on title to 5 Maple Gate- a pretty good indication that it was still open. There would have been the need to file WM's tax return for 2012 etc etc and T4A's for interest/dividend income wouldn't be in til the end of February/13.
The fact that DM signed the POA immediately following his arrest makes one wonder what the urgency was. After all, you would presume that a millionaire would have enough money in his bank account to handle his day to day affairs for a week or two...wouldn't you? MB would have still been able to make deposits to his account.
From our side of the fence, all we can say for certain is that the POA gave MB authority over various real estate holdings. We don't know if it was anymore than that at that time, even though it may have changed since then. The assets of Millardaire wouldn't need a POA to liquidate- they would just need approval of the Corporation, which MB has by default. MOO

 

[MsSherlock]

MsSherlock, I wonder if you could offer a technical opinion on something else I thought of.

Do you know what the nature of the bank charge against the 6-plex is? I mean, is the 6-plex still potentially an income-producing property? It seems to me that if you put that building in the hands of a property manager, DM could easily make $100k a year off that building. It would be professionally managed and DM wouldn't have to worry about it being infested with his freeloader friends, which ABro suggested in the main thread may have happened. The building was one of the ones that was inherited from CM, and it seems that it was fully paid off if the bank was able top place a charge against it for nearly the full value. Would this charge be something like a lien, where if the building was sold, a fixed sum would have to be returned to the bank? I mean, not like a mortgage, where there would be interest that would perhaps cancel out the value of the rental income? I am just asking if the 6-plex could still make money for DM, and if so, why it would be sold. If you have any insight, I'd love to hear.

Selling off all of DM's real estate assets, especially the income producing property and his primary residence, as well as all of DM's toys really seems counter-intuitive to me. Wouldn't this make it incredibly difficult for DM to apply for bail, if he has no fixed address other than cell 7 of the Hamilton-Wentworth Detention Centre? It seems that MB is leaving him with no comforts to return to if he were to get bail, and really reducing his chances of getting bail to begin with. DP said repeatedly that DM intended to apply for bail. MB is administrating things as if she things DM will never get out of jail. Why?

And why was WM's death witnessed that night by MB and DM's ex-fiancee (daughter of a friend of MB), rather than, as one might expect, WM's current fiancee and DM's current girlfriend, CN?

The charge on Riverside is 3.1 million and there's also an "assignment of rents" registered as well. In October/13, RBC had a charge of 3.8 million against it and that was replaced by a mortgage a month later for 3.1. That's a gap of 700k, so I'm not sure where the money came from to make up the difference. I'll have to look back to see if there was a property closing during that time. A 3.1 million dollar mortgage would cost approx 19K a month if it was at commercial rates, and approx 14.5K a month at residential rates. The "assignment of rents" means that in the event of default, the bank owns all the leases and has the right to collect the rents.

Also, it's safe to assume that the new charge is in fact a full fledged mortgage with standard mortgage payments simply due to the Mortgagee "Community Trust Co." IMO, a Trust Co. would be looking at conventional mortgage products, unlike a major bank like RBC, which may have placed a charge against the property to secure other debts from a risk management point of view. ie) demand loan, unsecured LOC etc". MOO

 

[Alethea Dice]

The charge on Riverside is 3.1 million and there's also an "assignment of rents" registered as well. In October/13, RBC had a charge of 3.8 million against it and that was replaced by a mortgage a month later for 3.1. That's a gap of 700k, so I'm not sure where the money came from to make up the difference. I'll have to look back to see if there was a property closing during that time. A 3.1 million dollar mortgage would cost approx 19K a month if it was at commercial rates, and approx 14.5K a month at residential rates. The "assignment of rents" means that in the event of default, the bank owns all the leases and has the right to collect the rents. MOO
View attachment 56979View attachment 56980

The Distillery condo was sold in August for $710,000. Maybe that went towards the charge on Riverside.

When the Riverside property first changed to DM's name, it showed a $1.1 million dollar mortgage, I believe, to WM. If the estate wasn't finalized yet when DM was arrested, how would that affect things regarding the need for cash? He wouldn't have inherited it yet, so that mortgage would still be owing to the estate. An estate that will more than likely not go to him ever if he is found guilty of murdering WM. Would that particular property just be in limbo until the estate can be settled and it can be determined who will receive whatever is left over by then?

 

[MsSherlock]

The Distillery condo was sold in August for $710,000. Maybe that went towards the charge on Riverside.

When the Riverside property first changed to DM's name, it showed a $1.1 million dollar mortgage, I believe, to WM. If the estate wasn't finalized yet when DM was arrested, how would that affect things regarding the need for cash? He wouldn't have inherited it yet, so that mortgage would still be owing to the estate. An estate that will more than likely not go to him ever if he is found guilty of murdering WM. Would that particular property just be in limbo until the estate can be settled and it can be determined who will receive whatever is left over by then?

Thanks AD. IMO, when WM died, DM was probably executor and sole beneficiary of the estate. I believe that WM's estate would include 1) Cash in the bank 2) stocks & bonds 3) real estate including mortgages 4) outside income such as royalties for patents, etc.
If DM was the executor and sole beneficiary, IMHO, he wouldn't be too concerned about honoring the mortgage WM held on Riverside. If I wanted to really get suspicious, I'd speculate that DM may even have wiped out WM's accounts before the bank even knew WM was dead. After all, it was pretty clear that the "suicide" had been accepted by TPS and he would only have been answering to himself. JMHO

The Distillery Condo sale makes sense. DM obviously had money to close the condo just days after TB's murder- meaning he had hundreds of thousands of dollars one week but yet a week later, right after a long interrogation, a time of great duress, he signs a POA?

Just can't figure that one out. I keep thinking that if he was my son and all that was going down, wouldn't I be thinking that it was all just a big terrible mistake? That he was obviously innocent and be getting out on bail quickly? Could I even process the whole thing in the matter of a day or two? I don't even know how that POA could be legal due to the duress that DM or MB for that matter, were under. Even if the bank had decided to call in a demand note, it would be far from instant. Really seems bizarre and bothers me as much as EG's pony!!

 

[Snoofo]

EG's pony!!!

I would think the very first thing DP or any criminal lawyer would do is advise their client to sign a POA.

So there's the POA. SnooperDuper, just because there are three kinds does not mean one can assume DM gave his mother all three. Also, even title insurers these days get antsy where POA's are used in conveyances and they specifically ask whether any party is signing as attorney and, if so, will look for a lot more information regarding the attorney. So if you plan to cheat your friend, do it for the cash and leave the real estate be, LOL.

FWIW, I've seen a copy of the POA in question and it is, IMO, in a comprehensive form prepared in a lawyer's office, not a form that can be printed off the internet and filled in later.

The POA to me was no surprise. The sales of properties to MB and later to others, don't seem very suspicious to me - what's the point in paying a property manager most of the income and keeping them? I would imagine MB has her own lawyers and advisers providing her with guidance.

Anybody who could get sued transfers to spouse or trusted next of kin. Business people do it all the time. DM would have been advised to do the same because someone will come for the money. MOO.

 

[SnooperDuper]

I just want to say thanks to MsSherlock and Alethea for such great discussion and input. Lots of things to think about.

It was the next day, Sunday May 12 in the early evening that LE opened the trailer and found a truck that they believed was TB's.

A heavy police presence on a quiet cul-de-sac in Kleinburg, Ont., seems to have borne fruit Sunday as media reports emerged that investigators found the truck of missing Hamilton man Timothy Bosma and towed it away.

Several police cars were parked through the day in front of the Tinsmith Court home of Madeleine Millard, mother of the man arrested Saturday in connection with Bosma’s disappearance. Neighbours told reporters they saw police open a large black trailer and then tow it out of the street in the early evening; the neighbours added that officers told them it contained Bosma’s black 2007 Dodge Ram 3500.

http://www.thestar.com/news/crime/2...kes_mothers_day_plea_for_his_safe_return.html

So when the POA was signed, they didn't even have the truck.

 

[Snoofo]

It was the next day, Sunday May 12 in the early evening that LE opened the trailer and found a truck that they believed was TB's.

So when the POA was signed, they didn't even have the truck.

I still don't think the POA signifies anything more than the accused has legal counsel who is fulfilling his obligation of protecting his client's interest.

Also, back to an earlier post, notwithstanding the other article stating MB has control of "most" of DM's assets, we have no evidence of her actual involvement in the Kijiji sales, even as director of the sales. I suppose she could always charge the Seller with theft if he wasn't authorized to sell the goods.

 

[MsSherlock]

FWIW, I've seen a copy of the POA in question and it is, IMO, in a comprehensive form prepared in a lawyer's office, not a form that can be printed off the internet and filled in later.

The POA to me was no surprise. The sales of properties to MB and later to others, don't seem very suspicious to me - what's the point in paying a property manager most of the income and keeping them? I would imagine MB has her own lawyers and advisers providing her with guidance.

IMHO, from my experience with POA's and real estate, most of them are drawn up by a lawyer and not pro forma types. As I said in an earlier post, it's not the fact that it was done, IMHO, it's all about the timing and obvious urgency. As Snooper says in the next post-they didn't even have a truck, let alone a body? WTH? Deepak was suppose to be going for a bail hearing on the Wednesday, wasn't he?
"Millard is set to attend a bail hearing Wednesday, but Paradkar said they will hold off on requesting bail until the Crown can provide them with more information on the case."
http://www.cbc.ca/m/touch/news/story/1.1330722

I need help trying to figure out why hours after an arrest, ANYONE'S mind, including the lawyers, would even jump to "property management" and the need to liquidate EVERYTHING? A POA could have been signed anytime. And why was it necessary to actually transfer title? And why was Maple Gate, the place DM lived, the first place to go?
On May 15/13,
'Paradkar said his client is “remorseful” for Bosma’s death but maintains his innocence. '
http://news.nationalpost.com/2013/0...harged-with-ontario-father-tim-bosmas-murder/

Then again, maybe DM was truly remorseful and in this time of vulnerability, intentionally gave his condo's and house to MB because deep down in his heart he knew that they had found the truck and the gig was up, and that he may be very well ruining her life? Like Snooper stated earlier, perhaps he was correcting a perceived injustice? Or perhaps the experts referred to in this Star article had it right?
"Tim Bosma murder case: Dellen Millard land deals ‘beyond smelly,’ experts say "
http://www.thestar.com/news/crime/2013/06/05/millard_land_deals_beyond_smelly_experts_say.html
MOO

 

[Snoofo]

He hadn't started transferring property. He was incarcerated and gave a power of attorney. He has a lot of assets. Whether he's expecting to be in jail for two weeks or two months or two decades, he cannot take care of his business or even access money to pay a retainer. It's not like he can call the bank or get online access whenever he feels like it to pay his bills and deposit the rent. I see the POA on the 10th as a no-brainer, actually. People sign POA's along with their estate planning documents all the time.
Maybe it wasn't on DM's mind but DP probably has a checklist of things to do first and that could be right up there.