quitclaim deed

Guest 0.10 Dollars($)

My Parents "willed their house to their 4 children quite a few years ago. However my Mother passed away 4 rs ago and my father went to the nursing home at that time. He is covered thru Medicaid and Medicare. The problem is, we want to sell the house but we have to sell the house with the life estate. should we get a quitclaim deed? Also, how long does that take to go into effect?

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi sheri.

Welcome to the forum.

You cannot sell the house as your father has life estate on the property. And if your father quitclaims the property to you then he may have to pay the penalties for transferring the property as he is still in Medicaid facility. Know when Medicaid facilities are protected at http://www.mortgagefit.com/know-how/ladybirddeed.html#25827

Hope it helps. Feel free to ask if you have any further questions.

Best of luck,
Larry

jbarto65 · Joined: 04 Nov 2007 Posts: 626 -0.11 Dollars($)

Looks like you are in a rough spot here. I would go to the link that larry suggested and search out your options first and you may want to seek legal advice from an attorney. goodluck, I hope all works out for you.

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