Posted on: 26th Nov, 2010 07:59 pm
my dad wants our son to have his house & 20 acres before he dies so he doesn't want it in a will. All is paid for. Dad just wants to be sure he gets the property & not lose it if he incurs medical bills or nursing home bills in the future. Property is in TN. Will grandson have to worry about a certain number of years passing between the property transfer & his legal right to it?
Thanks,
Wondering in TN
Thanks,
Wondering in TN
Hi Guest,
Your father will have to sign a warranty deed and transfer the property to your son. Once he does so, your son will become the owner of the property. However, your father won't be able to receive Medicaid benefits, if any, for the next 5 years after the transfer of the property.
Your father will have to sign a warranty deed and transfer the property to your son. Once he does so, your son will become the owner of the property. However, your father won't be able to receive Medicaid benefits, if any, for the next 5 years after the transfer of the property.