[WSBAPT] Transfer of Residence to Child

[jbdolan at jbdolan.com]

I have a Medicaid matter involving the potential transfer of mom's home to
her daughter - either based on the 2 year adult child in-home caregiver rule
or based on the transfer to a disabled child rule.  Over the years, I have
had occasion to do this only a few times, and in those cases the transferred
residence was paid for in full.  In this pending situation, there is a
mortgage.

 

I believe transferring the home to the adult in home care giver daughter or
adult disabled daughter will be acceptable to DSHS for Medicaid purposes.  I
also believe that the mortgage company will not be able to require the
daughter to qualify for refinancing pursuant to Garn - St. Germain, but I am
throwing this out to the hive for feedback.  Am I correct in my belief that
the daughter can simply assume the mortgage?

 

Thank you in advance for your wisdom.

 

Jim Dolan

 

=========================

 

Jones Butler Dolan, PS

P.O. Box 458

10027 SR 532

Stanwood, WA 98292

(tel) 360-336-2939

(fax) 360-336-2949

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20231206/0377b5c7/attachment.html>