Legal Question in Real Estate Law in Indiana

Real Estate

I've been told that a nursing home can go back five years from when a person is admitted to take contol of any property the person had owned and given to their children. Can the property be sold for a dollar to the children without the nursing home being able to take it?


Asked on 6/17/09, 3:58 pm

2 Answers from Attorneys
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: Real Estate

No. It has to be an arms length transaction, in other words a sale at fair marekt price. Otherwise, everyone would sell things to a family member for a $1 and there would really be no sense in having such legislation.

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Answered on 6/17/09, 5:49 pm
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: Real Estate

No. It has to be an arms length transaction, in other words a sale at fair marekt price. Otherwise, everyone would sell things to a family member for a $1 and there would really be no sense in having such legislation.

Read more
Answered on 6/17/09, 5:49 pm


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