Dementia and Elder Abuse
Concerns about the exploitation of older Australians have been raised after a Sydney real estate agent purchased a home from a man with Alzheimer's disease at a significantly undervalued price.
The agent, Rachelle Norah, was suspended for 12 months and fined $11,000 for buying the home for $500,000 under market value.
The decision was upheld by the tribunal, which ruled the agent engaged in misconduct and took advantage of the man for her own personal financial benefit.
- The home was purchased for $600,000, a significantly undervalued price.
- The house next door had sold for $1.1m just one month prior.
The agent had held power of attorney over the 82-year-old man, who also had alcohol problems.
Author's summary: Elder abuse concerns raised after real estate agent exploits man with Alzheimer's.