Posted on: 29th Oct, 2010 05:35 pm
My son is purchasing a home in a 55 + florida community for me and his mother to live in. In order for us to be eligible to participate in the activities there my name must be on the deed along with my son's. My question is this: In the event I would have to enter an extended care facility, nursing home, or so forth what are the restrictions or time restraints on removing my name from the deed. My son will have a mortagage on the property in the beginning.
Hi kdavis,
If you remove your name from the property deed, then you'll have to wait for 5 years as Medicaid has a look-back period of 5 years. For further information in this regard, you should contact an attorney who is well versed in the Medicaid laws of your state and take his opinion.
If you remove your name from the property deed, then you'll have to wait for 5 years as Medicaid has a look-back period of 5 years. For further information in this regard, you should contact an attorney who is well versed in the Medicaid laws of your state and take his opinion.