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Loren
Loren, Attorney
Category: Estate Law
Satisfied Customers: 30904
Experience:  30 years experience in the practice of estate law.
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in new jersey my mother owes 44,000 on her house. we have to

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in new jersey my mother owes 44,000 on her house. we have to put my father in a nursing home.
If i buy it for what she owes then go ahead and sell it later can they come looking for the money for the nursing home?
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide excellent service.

I am sorry to hear of your dilemma. I realize how frustrating this is for you, but I believe I have information which you will find helpful.

You can not buy the house for less than market value or it could cause a delay in your father's eligibility for medicaid. Tomthe extent that the sale price to you is below market value it would be treated as a gift to you and Medicaid, for eligibility determination, looks back 5 years for gifts and transfers.

So, no, you can not do what you are planning and still have your father qualify for Medicaid.

There are methods for protecting assets and you should consult with an elder care or estate planning attorney in your area.

I am sorry. I realize this is not the answer you were hoping for. As a professional, however, I am sometimes placed in the position of having to deliver news which is not favorable to a customer's position, but accurately reflects their position under the law. I hate it, but it happens and I ask that you not penalize me for having to deliver less than favorable news.

It is my privilege to assist you. Let me know if you need further information.  I hope I have helped you beyond your expectations in the service I have provided to you.  I am here for you.

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Thank you.

JudgeLaw
Loren and 5 other Estate Law Specialists are ready to help you
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