Texas | Real Estate Law
7/20/08, 8:31 pm
Legal Question
transfer home to son
If my mother transfers the title of the house to her son, will she loose her medicaid benefits?
transfer home to son
If my mother transfers the title of the house to her son, will she loose her medicaid benefits?
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Read More Answered By: Cheryl Rivera Smith |
Re: transfer home to son For a while. The transfer must be disclosed to Medicaid, they will value the house, and will suspend the benefit until mom has self-paid up to the value of the house. It is best not to make the transfer. |
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Read More Answered By: Kathryn Perales |
Re: transfer home to son As Ms. Smith wrote, a gift will normally disqualify your mother from Medicaid for a period of time. Under certain circumstances, however, a gift does not disqualify her from Medicaid, for example if the son is disabled.
If your mother sells the property to her son for fair market value, that should not disqualify her from Medicaid benefits at all. This should be done carefully, with an attorney's help, also to make sure the monthly payments of the owner financed loan would not be so high as to disqualify her from Medicaid benefits.
Finally, there are other circumstances under which your mother could hold on to the house, and the son could get the house upon her death without having to worry about Medicaid estate recovery. Again, an attorney knowledgeable in these matters should be consulted to find the best way to accomplish your mother's intentions while keeping her valuable benefits intact. |
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