Posted on: 09th May, 2011 02:56 pm
i live in north carolina. my grandfather owns a home that we now live in. he has parkinson's disease and is not in good health. he has signed the home over to my mother in a life estate deed about six months ago. will this disqualify him for medicaid if he needs to enter into a nursing home? can he decide to just throw us out at any time? my mom wanted me and my husband to move into this home and pay the home equity loan as rent since she is taking care of him and cannot afford to pay for both homes. how can i protect myself and not lose my home after paying all this money?
I dont know about the medicaid, but as the home was deeded in a life estate, then your mother holds the title to the estate. What happens after the life estate, it usually is based on ones life, and reverts to the original or to the life of another party. Being said, if you mother is the "rightful" owner of the property, then your GF would not be able to just throw you out, as your mother is the property owner at this time. Contact Medicaid directly for those questions and find out the designation of the life estate, where does it go if your mother dies...
Hi KMDurham!
Welcome to forums!
Transferring property at this stage may disqualify him for Medicaid benefits if he is transferred to the nursing home. But he won't be able to throw your mother out of the property as she is one of the owners of the property. If your name is on the property deed, you won't lose your money and you'll be able to stay in the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Transferring property at this stage may disqualify him for Medicaid benefits if he is transferred to the nursing home. But he won't be able to throw your mother out of the property as she is one of the owners of the property. If your name is on the property deed, you won't lose your money and you'll be able to stay in the property.
Feel free to ask if you've further queries.
Sussane
