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Transfer of property

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kris86 Joined: 09 Aug 2011 Posts: 1 1.40 Dollars($)	Posted: Tue Aug 09, 2011 7:45 am    Post subject: Transfer of property Like 0 Dislike 0 My dad is giving me property for a monthly fee until he and his wife die or 25o payments. He wants to quick claim it. Im worried that if he goes into a nursing home within 5 years in Mn they can take the house away. I heard that if he is a veteran they may be a way to get around that ???
jameshogg Joined: 20 Dec 2005 Posts: 10467 Location: Nevada 988.72 Dollars($)	Posted: Tue Aug 09, 2011 8:04 pm    Post subject: Like 0 Dislike 0 Hi kris, If your father transfers the property to you, then you will become the owner of the property. If he goes to a nursing home, then they may not be able to come after your property. However, your father may not qualify for Medicaid benefits in such a situation. Thanks
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Aug 10, 2011 7:05 pm    Post subject: Like 0 Dislike 0 Kris I think you'd be well-served by consulting with an estate attorney, who would have the specific expertise in discussing the nursing home and Medicaid scenarios with you. My suspicion is that you'd be okay in this situation, because it's not readily apparent that this is a ploy to avoid anyone "taking away" the property. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 514 Location: Australia 82.40 Dollars($)	Posted: Thu Aug 11, 2011 2:23 am    Post subject: hi kris86 ! Like 0 Dislike 0 You need an expert's legal advise to deal with the policies of one being in a nursing home. Countries usually varies in terms of their policies. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Sun Aug 21, 2011 2:46 pm    Post subject: Like 0 Dislike 0 OH PLEASE _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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