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  1. #1
    Join Date
    Aug 2010
    Posts
    5

    Default House Held in Parent's Name - Can Medicaid Claim a Lien

    An acquaintence sold us a home three years ago for 60k less than the appraised value. I in turn sold him my old house for 60k less than the appraised value. My credit was not good enough to put the new place into my name so My Mom did. She lives with us in a basement apartment. I thought I'd have my credit all fixed by now but don't. I don't know what to do now. My Mom is healthy but in her 70's. (Dad is deceased) I am an only child. I'm concerned what will happen if she passes. Will a irrevocable trust in her name give me some protection? From what I've been researching it seems that most of the time a mortgage company will just let the heirs keep paying the note. She does owe some large Visa bills though. Any help will be appreciated.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Protecting My Investment and Children's Childhood Home

    If your mother receives Medicare resulting in a lien against the home, you will have an uphill battle arguing that it is your home and not hers. Similarly her creditors may attempt to make a claim against the home as part of her estate. There are no easy fixes to this that don't involve getting title into your name and hoping that the conveyance occurs outside of the Medicare lookback period if that becomes an issue.

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