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Irwin Law
Irwin Law, Attorney
Category: FL Real Estate
Satisfied Customers: 7408
Experience:  Lawyer & Real Estate Broker, 30+ years, foreclosure, land contracts, inheritance, probate.
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My parents purchased a timeshare many years ago. Before my

Customer Question

My parents purchased a timeshare many years ago. Before my father passed, we had to transfer the timeshare to my mom while processing my father for Medicaid. Now I am trying to get the timeshare out of my mom's name in the event she has to one day go under the Medicaid system. I am in the process of doing a deed transfer back to the resort. It will cost my mom $2590.00 to process this. Is this the right thing to do in terms of avoiding Medicaid penalties?
Submitted: 1 year ago.
Category: FL Real Estate
Expert:  Irwin Law replied 1 year ago.

Yes it is the right thing to do, especially if the resort releases her from future liability under the time share agreement. You can view the transfer fee as part of "spending down" her assets in order to meet Medicaid requirements.