If my mother is in the nursing home, can she “sell” her home to me?
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If my mother is in the nursing home, can she “sell” her home to me?
Asked on July 9, 2015 under Real Estate Law, Georgia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
She can sell it to you for its fair market value; its even reasonable to take a modest "haircut" off or reduction from that amount, to reflect that there will be no or less fews (e.g. realtor's commissions); and, of course, since FMV is not a single number but a range, you could reasonably use a price toward the lower end of that range. But if she sells it to you for significantly less than FMV, Medicare may be able to set the transaction aside as fraudulent (not a real sale) conveyance, intended to defaud Medicare or other creditors. You need to buy it for a reasonable approximation of what she'd sell it to a third-party.
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