Posted by Leo on June 23, 2000 at 18:11:41:
Is the lien recorded, or just asserted? If they just SAY there is a lien and it is not recorded, go for it. I recently bought a property from a friend whose nursing home care was being paid for by Medicare. I assisted him to instantly roll his cash over into an installment note (NOT a CD, a note, which has no redeemable cash value, so far as Medicare is concerned), which they cannot claim. If the monthly income is above their minimum, they may claim the excess–ask an attorney who deals with issues for the elderly, as I did. The upshot was, he got more income than he ever had in his life, I got a positive cash flow property, and the old man was found INeligible for his medicare benefits. BUT, since he bought the installment note just two days after the money was his from escrow, he was inelible for ONLY those two days. After some discussion with his social worker, his care never missed a beat. (The social worker was irate for a while, wonder why.) The key for you is, is the lien recorded?