Posted on: 25th Mar, 2010 03:13 am
my wife and i bought our home 15 years ago my mom cosigned with my wife as i was not able to my mom is getting up in age and we want to not have medicaid attach a lein to the property if her health gets bad will a quit claim deed work or does the 5 year look back law screw us up? were in fl and have a current mortage refinance is not option etc any help please thanks!
Hi stubnail,
Rather than signing a quit claim deed, your mother can sign a ladybird deed and transfer the property to you. You and your wife can then refinance the loan in your name. A ladybird deed will not affect the eligibility of your mother to apply for a medicaid.
Thanks
Rather than signing a quit claim deed, your mother can sign a ladybird deed and transfer the property to you. You and your wife can then refinance the loan in your name. A ladybird deed will not affect the eligibility of your mother to apply for a medicaid.
Thanks