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Medicaid Lien - No Assets

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lassie4 Joined: 24 Feb 2010 Posts: 1 1.38 Dollars($)	Posted: Wed Feb 24, 2010 9:03 pm    Post subject: Medicaid Lien - No Assets Like 0 Dislike 0 Aunt applied for and received NJ Medicaid approval for nursing home care. Aunt entered nursing home at age 100 in 2009; she is still living. She has no assets other than her condo which is part of a "shares" retirement community. Condo is for sale for only $40,000. Taxes, insurance, and utilities are due; the small amount of money she had in her account (which included the sale of all her furniture) is now used up; house still has not sold. The community "company" is the sales agent; they do receive a 6% commission when the condo sells. In the meantime, they still expect to collect the monthly "association fees, taxes, etc., and they have 100 other units for sale in the community. What happens now? I am her POA and her only relative; I live in Colorado.
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Wed Feb 24, 2010 10:33 pm    Post subject: Like 0 Dislike 0 Hi lassie, Before the property is sold off, I would suggest you to have a word with an attorney who is an expert in the Medicaid laws of NJ. He/she will be able to let you know whether or not you should go ahead with the sales. _________________ Procrastination is the enemy of your financial success

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