Posted on: 27th Apr, 2007 03:13 pm
my father (widowed) is in a nursing home and is applying for medicaid. his only asset is his home. i was told that he needs a lady bird deed to protect his home from being taken by medicaid for nursing home charges. my sister is trying to quit claim the deed with the following wording: frank trico, a single person, 1st party to, carol frank, a single person and not as tenant in common, reserving unto grantor a life estate, without any liability for waste, second party whose post office is 8888 second st...orlando, fl
witnesseth, that the said first party, for and in consideration of ten and no/100 dollars by second party, the receipt whereof is hereby acknowleded, has remised, released and quit-claimed, and by these presents does remise, release and quit-claim unto the said party of the second part all the right, title, interest, claim and demand which the said first party has in and to the following decribed lot, piece, or parcel of land , situate, lying and being in the county of........
to me this is a quit claim deed and she is not following the lady bird rules.....please help. thank you.
witnesseth, that the said first party, for and in consideration of ten and no/100 dollars by second party, the receipt whereof is hereby acknowleded, has remised, released and quit-claimed, and by these presents does remise, release and quit-claim unto the said party of the second part all the right, title, interest, claim and demand which the said first party has in and to the following decribed lot, piece, or parcel of land , situate, lying and being in the county of........
to me this is a quit claim deed and she is not following the lady bird rules.....please help. thank you.
Hi Vmdlakehouse,
Welcome to Mortgagefit discussion board.
In the situation you have described a quit claim deed cannot be used so that home ownership gets transferred and it can be protected from being taken away to meet nursing home charges.
With a lady bird deed your father would retain his right to sell the home but if a quit claim deed is made then he will not have any such right.
Please also go through this page where you have posted your question earlier to read the replies other community members have given - http://www.mortgagefit.com/know-how/ladybirddeed.html
Do let me know if you have any other questions.
Thanks
Blue
Welcome to Mortgagefit discussion board.
In the situation you have described a quit claim deed cannot be used so that home ownership gets transferred and it can be protected from being taken away to meet nursing home charges.
With a lady bird deed your father would retain his right to sell the home but if a quit claim deed is made then he will not have any such right.
Please also go through this page where you have posted your question earlier to read the replies other community members have given - http://www.mortgagefit.com/know-how/ladybirddeed.html
Do let me know if you have any other questions.
Thanks
Blue