Posted by winston on April 16, 2002 at 12:54:23:
I would have to say that if the owner is going to be placed in a nursing home, you may be able to save this asset by having the owner carry a mortgage. From some research I did before,I think a nursing home can only attach the income of a installment sale while the patient resides. Usually a monthly stay is 5-7k per month, so a short stay will easily deplete this asset. Of course, I am not a lawyer but I’m just putting this out there as apossible way you can help this poor soul from losing everything under title 19! I would speak to the owner’s lawyer and see if this is a win-win for you and the owner’s estate.