Can I Be Forced to Buy Part of a Property

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Brian: I entered into an agreement on a piece of property 25 some years ago, my wife and I and her mother and now her mother is ill running out of money and uh, she has, my wife has two brothers that didn’t have any interest in the property, didn’t have any financial interest in it. Like I say, my mother-in-law’s running out of money, she may end up in a nursing home. This property, the deed says full rights to survivor. If something happened and she was out of money, could I be forced to have to buy out her her half of the value of that property?

Speaker 2: I don’t think that you can ask unless you’re tenants in common and you’re not, you’re a tenants with full rights of survivorship. Okay. And so those are really tricky issues. But the, the bigger issue for you is what are you going to do when Medicaid comes knocking on your door and saying, hey, mother-in-law’s got this piece of property and we’re not going to let her be in this nursing home, uh, and pay for it unless of course, we can, uh, you know, take part of that property. So what I’d recommend that you do is, um, you guys need to do a sale and keep her out of the nursing home for as long as possible because there’s, I think a one year look back. You follow what I’m saying? So Medicaid is going to come and say we’re going to take a look a year back or maybe two years. I’m not sure exactly what the look back period is, but I know there’s a lawyer, a good friend of mine that knows that answer. Um, and they’re going to look back and say, well, you did this transaction to close in time to when she was going into the nursing home. So we’re going to disallow this and we’re not paying. You follow what I’m saying?

Guest: Right

Brian: You’ve got bigger issues. You’ve got bigger fish to fry here.