[WSBARP] funding constructive trust
Robert R. Cole
cole-gilday at stanwoodlaw.net
Mon Nov 29 16:00:56 PST 2021
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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