With a quick claim deed, do i own the property free and clear?

barbaraphornsby · Joined: 04 Sep 2008 Posts: 2 1.52 Dollars($)

My dad recently had a quick claim deed done because he no longer could afford the taxes and up keep (he is 85) of this farm that has been in the family for many years. His mother gave it to him with a warranty deed. He gave it to me (recommended by his lawyer) with a quick claim deed. Deed says he sold it to me for $1.
his concern now is - if something should happen to him and he has to go into a nursing home and can't afford it can the state come back and take the property?

sara · Posted: Thu Sep 04, 2008 6:34 am Post subject:

You do own property free and clear with a quitclaim deed. But the deed doesn't confirm who the legal owners are. It simple states that a transfer has taken place. Since your dad has already transferred property, the state cannot take it from you. By the way, has your dad applied for Medicaid? Ask him to check out the state Medicaid rules or else let me know what's the name of the state.

Know more on quit claim deed.

Take Care

barbaraphornsby · Joined: 04 Sep 2008 Posts: 2 1.52 Dollars($)

The lawyer who did the deed did have both of us sign and wittnesses. i hope that helps in some way. Should i keep the warranty deed that my grandmother gave to my dad when she transfered the property to him? My dad is in the state of Vermont if he needed medicaid.

helping_user

Welcome barbara.

The lawyer did the right thing. It's important to get the deed signed by witnesses or notary public. And then you need to get it recorded at the County Recorder's office.

The warranty deed has no role currently because property has already been transferred to you.

As far as I understand, Medicaid considers a look-back period of 5 years for transfer of assets and charges a penalty for such a transfer. The penalty period starts from the date when your dad applies for Medicaid or is otherwise qualified for the assistance at the time when he requires nursing home care.

To know more on Medicaid look-back period , refer to a previous discussion on this topic. Also, check out the Faqs on Vermont Medicaid assistance from http://www.vtlawhelp.org/Home/PublicWeb/Pages/Health/MedicaidChangesDR A .

Thanks

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