What to do if a co-owner is placed in a nursing home?
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What to do if a co-owner is placed in a nursing home?
My mother co-signed my original house loan and is listed on the deed to my home. She has now been placed in a nursing home. Can the nursing home go after my property as part of her assets? Also, is it too late to do a quit claim deed to remove her name from the property?
Asked on December 27, 2010 under Real Estate Law, Minnesota
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
If it appears that the asset is also your Mothers then it can be subject to attachment by the nursing home. I would strongly suggest that you seek help from an attorney in your area on the matter as soon as you possibly can, preferably someone that knows about elder care and estate planning. Assets that are transferred too close in time to her exhaustion of her funds to pay for the nursing facility can indeed be set aside as transferred with an intent to defraud. You need to speak with someone a soon as you can as to how to protect your assets from her creditors. Good luck to you.
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