Posted on: 27th Dec, 2009 03:11 pm
I have a special warranty deed that my dad signed on April 2005, he then went into a nursing home on Medicaid in April 2007. I read that with this type of deed that if the person lived in the home for at least one year after the transfer Medicaid could not pursue as part of the Meidcaid recovery Act, is that correct? Do I complete their questionaire saying he did not own property?
As far as I know, it is better to use a ladybird deed rather than a warranty deed in a situation where the owner of the property will have to go for Medicaid. Check out a discussion on the similar topic from the given page:
http://www.mortgagefit.com/propertytransfer/medicaidestate-recovery.html
http://www.mortgagefit.com/propertytransfer/medicaidestate-recovery.html
>>I read that with this type of deed that if the person lived in the home for at least one year after the transfer Medicaid could not pursue as part of the Meidcaid recovery Act, is that correct?
I've never heard of that, where'd you read it at?
There's no way to stop them from recovering expenses if the Title is in your Dad's name. However, there are legal ways of changing Title. You should consult with an Estate Planning Attorney.
I've never heard of that, where'd you read it at?
There's no way to stop them from recovering expenses if the Title is in your Dad's name. However, there are legal ways of changing Title. You should consult with an Estate Planning Attorney.
