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five year waiting period for tranfer

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newmand Joined: 07 May 2009 Posts: 3 2.26 Dollars($)	Posted: Thu May 07, 2009 9:13 am    Post subject: five year waiting period for tranfer Like 0 Dislike 0 how to go about transferring my mothers home to myself. she is going to a nursing home and we wish to hang onto home under the five year waiting period in Iowa.
smithsussane Joined: 18 Sep 2008 Posts: 10020 Location: Alaska 917.78 Dollars($)	Posted: Thu May 07, 2009 8:39 pm    Post subject: Like 0 Dislike 0 Hi newmand! Welcome to forums! You can use a ladybird deed to transfer your mother's property to yourself. This deed will not make your mother ineligible for Medicaid if she expresses her wish to return back after being taken to nursing home. In case, if she doesn’t express her wish to return, the home may be considered as an exempt asset for Medicaid eligibility if her spouse or relative occupies it. However, there are chances that Medicaid would consider her ineligible for medicaid benefits for the next 5 years if she transfers the property to you now. Feel free to ask if you have further queries. Sussane
Niicss Joined: 03 Oct 2005 Posts: 4770 Location: New Jersey 499.28 Dollars($)	Posted: Fri May 08, 2009 1:38 am    Post subject: Like 0 Dislike 0 You can also check out the given link: http://www.mortgagefit.com/propertytransfer/5year-waitingperiod.html#9 4251 Some of our community experts have also replied to your query over there. Please take a look. I hope it will help you. _________________ Good is the Enemy of Great.

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