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 atwaterelectric
Joined: 29 Sep 2009
Posts: 1
1.30 Dollars($)
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 Posted: Tue Sep 29, 2009 10:22 am Post subject: can my father quit claim his home to my sister and I if ther |
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my father is elderly (8 and lives by himself. Would like to quit claim his home (no mortgage) to his two daughters. Is there anything special we need to do if his property is under a living trust? And if we need to place him in a convelescent home will they come after his property? |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Tue Sep 29, 2009 7:32 pm Post subject: |
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Hi atwaterelectric,
Your father can first remove the property from the living trust and then transfer it to his daughters with the help of a quitclaim deed. The deed then needs to be notarized and recorded. You may contact an attorney and he may help your father in drafting the deed and transferring the property.
As far as transferring him to a convalescent home is concerned, property transfer would cause a problem in case he would be taking medicaid benefits. Medicaid has a look-back period of 5 years. He may become ineligible for medicaid benefits for the next 5 years after the transfer of the property. To know more about Medicaid look-back period, check out the following link:
http://www.mortgagefit.com/michigan/medicaid-estaterecovery.html#66931
Thanks |
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jheard
Moderator
Joined: 12 Dec 2007
Posts: 599
Location: Houston, TX
98.69 Dollars($)
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| Posted: Fri Oct 02, 2009 12:13 pm Post subject: |
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Only the trustee of the trust can transfer the property. That may be your father. In any case, the trustee must execute any deed for the property.
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Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation. |
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