Terms of a Life Use Deed
I own two houses, one in which I live and the other where my father resides. I am considering changing the deed of the second house to a Life Use Deed, adding my father. Before I do this I would like to know what will happen if he should become ill and need to apply for medicaid. Will State/County be able to demand money or, depending on period of time on medicaid, take the house from me in repayment?
1 Answer from Attorneys
Re: Terms of a Life Use Deed
No. Your father would have no ownership rights to the property.
In the alternative, you can enter into a long term lease with your father, conditioned on his life. The lease should be filed with the County Clerk. It will have the same effect.