Posted on: 21st Jun, 2011 11:21 am
hello,
my parent used a quit claim deed to transfer the property to me (in 2006) reserving a life estate, can the state of residence (mn) have access to the property if my parent happens to need long term care? can i sell the property while my parent still lives in the house?
does the deed supercede a statute of limitations made by the state?
my parent used a quit claim deed to transfer the property to me (in 2006) reserving a life estate, can the state of residence (mn) have access to the property if my parent happens to need long term care? can i sell the property while my parent still lives in the house?
does the deed supercede a statute of limitations made by the state?
Hi maggiepie,
If your parents agree, then you can sell off the property. However selling off the property may make your parents ineligible for Medicaid benefits for around 5 years.
Thanks
If your parents agree, then you can sell off the property. However selling off the property may make your parents ineligible for Medicaid benefits for around 5 years.
Thanks