Compare Mortgage Quotes

deb_nicole2004 · Joined: 20 Oct 2009 Posts: 1 1.29 Dollars($)

My husband has elderly parent who is currently in the hospital, but is soon to be released. She owns two properties. Can she transfer ownerhip of the properties to us and if she should happen to have to go back into a nursing home, can they lay claim to the properties for payment of her bill? Also - would a Quitclaim work in this situation?

jameshogg · Posted: Tue Oct 20, 2009 10:16 pm Post subject:

Hi deb_nicole,

If the parent is on Medicaid, then he/she would become ineligible for the medicaid benefits for the next 5 years if the property is transferred now. Rather than going for a quitclaim deed, it would be a better option to go for a ladybird deed. To know if ladybird deed affects medicaid eligibility, check out the given page:
http://www.mortgagefit.com/texas/ladybirddeed-medicaid.html

Thanks

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Would a Quit Claim work in this situation?