Posted on: 30th May, 2010 08:38 am
My fiance and his two brothers were named in their dads will as owner of their parents home. Their mother is now sick and have to go either to a nursing home or assisted living, will Ohio Medicaid force them to sell the property or can they utilize the LadyBird Deed. Also can a family member now rent the home. The brothers want to keep the home.
Hi Franny,
The mother can use a ladybird deed and transfer the property to the son. A ladybird deed does not affect the Medicaid eligibility of the lender if the person expresses his/her wish to come back to the property or a close relative stays in the property. To know more about whether or not ladybird deed results in Medicaid penalty, check out the given page:
http://www.mortgagefit.com/texas/ladybirddeed-medicaid.html
The mother can use a ladybird deed and transfer the property to the son. A ladybird deed does not affect the Medicaid eligibility of the lender if the person expresses his/her wish to come back to the property or a close relative stays in the property. To know more about whether or not ladybird deed results in Medicaid penalty, check out the given page:
http://www.mortgagefit.com/texas/ladybirddeed-medicaid.html