Posted on: 30th Jan, 2009 03:12 am
my grandmother has a 3 bedroom house. she is living in an extra care housing assosition. she recieves housing benifit and attendance allowance. she is 82 years old. she would like to give the house to me. what does this entail and how do we go about doing so?
Hi suzannagregory!
Welcome to forums!
Your grandmother can sign a quitclaim deed in your name and transfer the property to you. Once she fills out the quitclaim deed, it needs to be notarized and recorded at the county recorder's office. As the deed is recorded, it becomes valid. But if she is planning to go for Medicaid, then there are chances that she will not be eligible for it. Medicaid has a look back period of 5 years. Any transfers within 5 years will lead to a waiting period. To know more about look back period, check out the following page:
http://www.mortgagefit.com/michigan/medicaid-estaterecovery.html#66931
Sussane
Welcome to forums!
Your grandmother can sign a quitclaim deed in your name and transfer the property to you. Once she fills out the quitclaim deed, it needs to be notarized and recorded at the county recorder's office. As the deed is recorded, it becomes valid. But if she is planning to go for Medicaid, then there are chances that she will not be eligible for it. Medicaid has a look back period of 5 years. Any transfers within 5 years will lead to a waiting period. To know more about look back period, check out the following page:
http://www.mortgagefit.com/michigan/medicaid-estaterecovery.html#66931
Sussane