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I receive Social Security Disability. I inherited the house…

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I receive Social Security Disability...
I receive Social Security Disability. I inherited the house I live in. Can I sell the house for 1/2 value in exchange for living there and still receive Disability?
Submitted: 8 years ago.Category: Legal
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Answered in 2 minutes by:
8/1/2009
Lawyer: xavierjd, Attorney replied 8 years ago
xavierjd
xavierjd, Attorney
Category: Legal
Satisfied Customers: 3,400
Experience: 20+ yrs in criminal, landlord/tenant, family, & small claims
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Thanks for using JustAnswer.com

 

In order for me to better assist you, please provide the following:

 

Who would you sell the 1/2 interest in the house to? A family member? Friend? other?

 

Thanks

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Customer reply replied 8 years ago
Currently, maybe a friend. I will sell to anyone. May I ask what the differences are?
Lawyer: xavierjd, Attorney replied 8 years ago

An inheritance does not affect social security disability...So, if you inherited $50,000.00, it would not affect your ability to remain qualified.

 

However, if you sell a house, it may be deemed as earned income. It it is seen as earned income, the sale may have an effect on your ability to continue to receive payments.

 

It is NEVER wise to sell 1/2 of an asset. Either sell it, or keep it. You can be a landlord, but your income may not exceed certain llimits.

 

It is best in your situation to contact a social security disability advocate or attorney to assist you. You can contact your local bar association for a referral. It will probably give you 2 or 3 names. You can contact the attorney(s) for a telephone consultation, or ask to set up an appointment to discuss the specific facts of your case. Sometimes, these consultations are free.

 

My concern for you to see an attorney is that the attorney may be able to have the sale of the home be seen as an inheritance. Thus, no problem. If any sale is considered as earned income, your payments may be in jeopardy.

I hope that you find this information useful, and that you press the GREEN ACCEPT button so that I may be paid for my work and receive credit for answering your question. Positive feedback, although not required is always appreciated. Also, a BONUS is also not required but is greatly appreciated.

Legal Disclaimer: The answer provided herein is for informational purposes only and should not be considered legal advice. No claim is made that I am licensed to practice law in the state or jurisdiction where this information is being provided and you should always seek legal counsel admitted to practice in your local jurisdiction for representation and advice on any legal matter.

 

xavierjd
xavierjd, Attorney
Category: Legal
Satisfied Customers: 3,400
Experience: 20+ yrs in criminal, landlord/tenant, family, & small claims
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