Posted on: 05th Sep, 2010 03:15 pm
My wife and I are the legal POA's for my mother in law. We are her full time caregivers and she lives with us full time.
In addition, she is the owner of another property that is occupied by her son (my brother in law) who has let the entire property go to seed. The house is close to being condemned, and MY MIL is facing fines and possible criminal prosecution from the local Department of Health because of the horrible conditions on the property.
Her wish is to Quit Claim this property to her son, therefore making it *HIS* problem.
Two questions:
1) By transferring the property, will she also transfer all the responsibility (therefore, making it *his* problem)?
and 2) Will the effect her Medicare? I've read in some places that it could.
In addition, she is the owner of another property that is occupied by her son (my brother in law) who has let the entire property go to seed. The house is close to being condemned, and MY MIL is facing fines and possible criminal prosecution from the local Department of Health because of the horrible conditions on the property.
Her wish is to Quit Claim this property to her son, therefore making it *HIS* problem.
Two questions:
1) By transferring the property, will she also transfer all the responsibility (therefore, making it *his* problem)?
and 2) Will the effect her Medicare? I've read in some places that it could.
Welcome jammindude,
Once your mother-in-law transfers the property to her son, he would be fully responsible for it. However, if the mortgage is in her name, then she would be responsible for paying it unless he refinances it in his name.
Transferring the property can affect her Medicare eligibility. She should speak to a local attorney well versed with the Medicare laws of the state and take his opinion in this matter.
Once your mother-in-law transfers the property to her son, he would be fully responsible for it. However, if the mortgage is in her name, then she would be responsible for paying it unless he refinances it in his name.
Transferring the property can affect her Medicare eligibility. She should speak to a local attorney well versed with the Medicare laws of the state and take his opinion in this matter.
There is no mortgage...she owns the property free and clear. But with the condition its in, its almost not worth saving. (and she was going to leave it to him in her will anyway)
I will speak to a local attorney tomorrow on her behalf regarding the Medicare issue.
Thank you...and if anyone else has anything to add, I will be watching this thread.
I will speak to a local attorney tomorrow on her behalf regarding the Medicare issue.
Thank you...and if anyone else has anything to add, I will be watching this thread.
Hi jammindude,
As the property is free and clear, your mother-in-law can simply transfer the property to her son and he would become liable for the maintenance and property taxes. As far as Medicare issues are concerned, the local attorney will be best to help you in this matter.
Thanks
As the property is free and clear, your mother-in-law can simply transfer the property to her son and he would become liable for the maintenance and property taxes. As far as Medicare issues are concerned, the local attorney will be best to help you in this matter.
Thanks