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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33798
Experience:  15 years real estate, Realtor. Landlord 26 years
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Father of my child bought a house and added my name to it

Customer Question

Father of my child bought a house and added my name to it with the understanding that he was buying it for our child to have it in the future. He has made all payments and house was paid off in 2007. We haven't lived together since 1998. In 2006 I became disable and started receiving SSI. I told them my name was on the house. Now my daughter is 29 and her father wants the house put in her name. I don't know what to do. It will be considered a resource and if I transfer I may be ineligible to receive SSI.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Barrister replied 5 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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I don't know what to do. It will be considered a resource and if I transfer I may be ineligible to receive SSI.

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If you disclosed that you had an interest in the house when you initially filed for SSI, then if you quitclaim deed the house over to daughter, it could affect your benefits because you have already disclosed your interest in it.

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As of 12/14/99, transferring ownership of a resource for less than fair market value can result in a period of ineligibility for SSI. Therefore, when an individual alleges that a resource has been transferred it is necessary to develop this issue in order to determine the effect on SSI eligibility. SSA must also notify State Medicaid agencies about resource transfers, regardless of when the transfer occurred.

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With that said, you could agree to sell it to daughter for fair market value. Public Law 106-169 established a period of SSI ineligibility of up to 36 months for an individual who transfers resources for less than fair market value.

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So you may be stuck with selling your interest to daughter for half the appraised fair market value and then losing benefits until you get back down to the $2000 limit on assets.

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According to the SSA:

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WHAT HAPPENS IF I SELL A RESOURCE?

If you sell a resource for what it is worth, the 36–month ineligibility period does not apply. But, the money you receive from the sale may make you ineligible if it puts you over the $2,000 resource limit for an individual or $3,000 for a couple.

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I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience,even when I know the answer doesn’t make the customer happy...

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thanks

Barrister

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