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pamrose · Joined: 02 Jul 2010 Posts: 3 1.80 Dollars($)

My uncle and I are joint owners of a co-op. I lived there 30 years ago for 10 years, then he moved in and has lived there since. My uncle had money that was to take care of him in his old age but was scammed out of 100,00s by a woman 4 years ago. Now he is being declared incompetant and needs to go into a nursing home. He has a $2500/month pension and very little cash left. My sister is becoming his guardian and medicaid is saying they will force me to sell. I want to keep this apartment as a place for my son and eventually myself to move to when I retire (6 years). What rights do I have. Mortgage is paid in full, I will be responsible for maintenance fees once he isn't.

adonis · Posted: Sat Jul 03, 2010 12:17 am Post subject:

Hi pamrose,

As your uncle is one of the owners of the property, the Medicaid will be able to recover the dues by selling off the property. If he transfers the property to you now, then he won't remain eligible for receiving for Medicaid benefits for the next 5 years. If a ladybird deed is allowed in your state, then you can ask your uncle to transfer the property to you with the help of a ladybird deed. This will not affect his eligibility to receive Medicaid benefits provided his spouse or any close relative stays in the property.

Posted: Sat Jul 03, 2010 7:57 am Post subject:

So this means I lose all my investment in the property? It doesn't seem fair. How could the government just sell my piece? BTW, it value is not very much because my uncle wore it into the ground and first thing I was going to fix it up. I live in NY and have no idea what a ladybird deed is and if we have them here.

pamrose · Joined: 02 Jul 2010 Posts: 3 1.80 Dollars($)

My uncle has no spouse and his closet relatives are my mother (his sister) and me and my sister (2 nieces), that's it. Also remember this is a co-op with very stringent rules and board approval for a sale........it's a small place and doesn't have much appeal to many. Can I buy his part back from the government?

jameshogg · Posted: Mon Jul 05, 2010 10:29 pm Post subject:

Hi pamrose,

If you pay off the lien that Medicaid places on the property, then the government will not sell it off to recover the dues. Thus, you will be able to save the property.

Thanks

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