[WSBARP] funding constructive trust

[Robert R. Cole]

18 yrs ago GR agreed with GE (a friend) that GR would take a loan out on 
the property for his equity and, when the loan was paid off, the 
property would be deeded to GE.  GE took occupation and made all 
payments on the loan, paid all taxes, made all repairs, and generally 
both treated it as his.  Now that GR is getting old GE wants the deed, 
and can pay off the mortgage.  GR is good with all this, as (apparently) 
is his family.  The rub is that GR is looking at Medicaid eligibility 
due to his health and lack of funds.  So "gifting" doesn't work, nor 
would paying the full excise tax.  Maybe "clearing and exiting title" 
under -214 of the WAC???  Any other ideas???

-- 

Very Truly Yours,

Robert R. Cole

Law Office of Cole & Gilday, P.C.

10101 - 270th St. NW

Stanwood, WA 98292

(360) 629-2900 (Telephone)

(360) 629-0220 (Fax)

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