Posted by Brent_IL on April 14, 2002 at 14:46:54:
You need to proceed with caution. Check the state laws and agency guidelines. A lien may be in place already. A transfer within 3 years might be held invalid. You might have to pay for independent legal counsel to represent her interests. Don’t deal unless she has a lawyer.
Buying a house from hospitalized lady - Posted by Tom
Posted by Tom on April 14, 2002 at 01:10:45:
Ran across an old acquaintance today. His mother is 93 and has alzheimers and is in a care facility. Her home is empty, and paid for.
As health care is provided by some branch of the government, any income receives go straight to the state(?).
Would like to arrange a seller financed buyout, but as she is already 93, she’ll probably not last a lot longer. What the best way to structure this so that the estate will receive maximum benefit, and the state just the current funds?