How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 53729
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
Type Your Real Estate Law Question Here...
Richard is online now
A new question is answered every 9 seconds

My grandmother had a quit claim deed done last year to add

This answer was rated:

My grandmother had a quit claim deed done last year to add me as the primary owner and keep her as second owner. She wants to leave me the house and not deal with probate etc. I thought we were all set but now as she progresses she is becoming nasty and hard to care for. I know it's taking a toll on me and that she's not getting the proper care due to always being mad at me. I am looking into a nursing home but I don't know all the rules. The house is worth 110000 and she has 160000ish in IRA and other banks. I know that you can gift 50% of your asserts and then wait the 20 or so months it would take as the penalty to gift 130000ish. She could then put the other half into a Medicaid annuity? And use that to pay for a nursing home. Which I think she will have enough to pay 20ish months before Medicaid will pay, by then she will be down to an amount to be able to apply as well. The only thing is I'm her POA but not for gifting things. I'm afraid that if I bring it up she will not gift the house but instead gift the 130000 in money to my sister etc to spite me. I've lived and took care of the house for 4 years. I'm afraid to approach this option but am risking my own health being around her 24/7. Any advice? She would most likely be ruled that she couldn't live alone. Do I risk losing the house it my only motivation to stick around to be honest with her new dementia mind. I want to be what's best for us both but I know her new mind will hate me.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. Has she already transferred an interest in the property to you via the quit claim deed? And, when you say you are the primary owner and she is the second owner...what exactly do you mean by that? Are you both named on the quit claim deed with your name being first? Or, did she transfer title to you and simply retain a life estate? Or, something else? Thanks.
Customer: replied 3 years ago.
I guess it was a quit claim deed to transfer ownership but keep a living estate (term?) when I recieved the deed it has her as secondary owner still so the taxes with star etc are all through her still. I'm afraid she would do something she wouldn't of not wing mad. I can't do the gifting but really can't stay there anymore either. She can't stay alone so I'm hoping she will come around and gift the 50%. How does gifting work what paperwork does it entail what's the process? Thanks
Thanks so much for following up. If the quit claim deed has already been delivered and recorded, then you are the residual owner period. She may have a life estate which enables her to stay during her lifetime as long as she maintains the property and pays the property taxes, but you are the residual owner...and will gain 100% ownership upon the sooner of her death or when she fails to maintain the property and/or pay the taxes, at which time her life estate terminates. There is nothing she can now do to take away your residual ownership of the property because it's already vested in you and a gift such as this, once made, cannot be unilaterally rescinded. So, whether she's mean and nasty and/or wants to hurt you, she has no legal right to do so by taking your residual ownership in the property.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
Richard and 7 other Real Estate Law Specialists are ready to help you
Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help! For easy access, my bookmark is:

Related Real Estate Law Questions