American singer and songwriter Katy Perry has had a history with housing lawsuits. Well, this time a lawsuit the singer is involved in has inspired a housing bill.
The Katy Perry Act – Addressing Elder Financial Abuse
Katy Perry and her husband Orlando Bloom are involved in a legal battle with an 84-year-old veteran Carl Westcott- previous owner of the $15 million Santa Barbara mansion they bought in July 2020. This legal dispute has given rise to what is now known as ‘The Katy Perry Act.’
The Katy Perry Act aims to address the risks of elder financial abuse, especially concerning property and real estate sales and transfers. The website dedicated to the act explains its purpose and significance in protecting the elderly from potential exploitation.
Protecting Senior Citizens
One of the key provisions of the Katy Perry Act is the establishment of a 72-hour cool-down period during which either party involved in a contract for the conveyance of a personal residence, in which one party is over the age of 75, can rescind the agreement without penalty. This provision is crucial in ensuring that older individuals are not rushed into making significant decisions, particularly when it comes to selling their homes.
The act’s website highlights the issue of ‘elder fraud’ or ‘financial elder abuse’ as a rampant problem in the United States. According to the FBI, online fraud targeting seniors has increased by a staggering 400% in recent years. The Federal Trade Commission reported that individuals aged 60 and above filed over 93,000 complaints of fraud in 2020, with losses exceeding $500 million. These alarming statistics underscore the urgency of protecting senior citizens against financial exploitation.
The Katy PERRY Act addresses the risks of elder financial abuse, especially as it relates to property and real estate sales and transfers,” states the website.(Chris Pizzello/Invision/AP)
The Legal Battle: Katy vs. Carl
The lawsuit between Katy Perry and Carl Westcott sheds light on the circumstances that led to the creation of the Katy Perry Act. According to court documents, Carl was heavily medicated on ‘several intoxicating pain-killing opiates’ at the time of the home sale and ‘did not want to sell his home’ at all.
Furthermore, Carl had been diagnosed with Huntington’s Disease, a debilitating brain disorder, in 2015. Documents submitted in the Los Angeles County Superior Court argue that the medications he was on disoriented and intoxicated him, depriving him of the capacity to understand the terms and consequences of the contract. As a result, the contract he signed to sell his home is deemed void or voidable under the law.
Public Reaction
The Katy Perry Act has garnered attention on social media and in public discourse. Many individuals have expressed their support for the initiative to protect vulnerable senior citizens from financial abuse.
One user on social media commented, That’s an interesting proposal! It’s crucial to protect vulnerable individuals from financial abuse, especially the elderly.” This sentiment reflects the broader recognition of the need for legislation like the Katy Perry Act.
Another user pointed out, 2nd time KP has allegedly sued over not being able to purchase a property from an elderly person…starting to see a trend. This highlights the significance of such cases in raising awareness about the issue of elder financial abuse.
FAQs
- What is the Katy Perry Act? The Katy Perry Act is a piece of legislation inspired by a housing lawsuit involving Katy Perry. It addresses the risks of elder financial abuse, particularly in property and real estate transactions, and includes provisions to protect older individuals.
- Why was the Katy Perry Act created? The act was created to protect senior citizens from financial exploitation, especially in situations where they may be vulnerable, such as selling their homes.
- What is the 72-hour cool-down period mentioned in the act? The 72-hour cool-down period allows either party involved in a contract for the conveyance of a personal residence, in which one party is over the age of 75, to rescind the agreement without penalty. This provision ensures that older individuals have adequate time to consider their decisions.
- What is ‘elder fraud’ or ‘financial elder abuse’? Elder fraud or financial elder abuse refers to the exploitation or manipulation of senior citizens, often involving financial transactions or assets.
- How has the prevalence of elder fraud changed in recent years? According to the FBI, the prevalence of online fraud targeting seniors has increased by 400% in recent years. In 2020, the Federal Trade Commission reported over 93,000 complaints of fraud from individuals aged 60 and above, with losses exceeding $500 million.
