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removing name from deed

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kdavis Guest	Posted: Fri Oct 29, 2010 5:35 pm    Post subject: removing name from deed Like 0 Dislike 0 My son is purchasing a home in a 55 + florida community for me and his mother to live in. In order for us to be eligible to participate in the activities there my name must be on the deed along with my son's. My question is this: In the event I would have to enter an extended care facility, nursing home, or so forth what are the restrictions or time restraints on removing my name from the deed. My son will have a mortagage on the property in the beginning. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Oct 31, 2010 10:59 pm    Post subject: Like 0 Dislike 0 Hi kdavis, If you remove your name from the property deed, then you'll have to wait for 5 years as Medicaid has a look-back period of 5 years. For further information in this regard, you should contact an attorney who is well versed in the Medicaid laws of your state and take his opinion. _________________ Procrastination is the enemy of your financial success

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