AboutAl Romero, Ltrs. Expertise I can answer questions relating to general Real Estate in Pennsylvania including questions relating to Real Estate Investments and Landlord issues. I cannot delve out of my expertise ie;as in the practice of Law.
www.yorkhomeguide.com
Experience 5 years as an Investment property Advisor with a local Investment firm and 3 years of general practice.
Organizations National Realtors Association
R.A.Y.A.C
Pennsylvania Realtors Association
H.A.R
Publications york listings
Central Pa Real Estate Investors guide
Education/Credentials Center of Real Estate Law and Sales Practice.
Ltrs certified.
housevalues agent certification.
Expert: Al Romero, Ltrs. Date: 5/13/2007 Subject: Buying my father's farm without problems
Question My father is 80 and wants to deed his farm to me and we will be moving there as soon as we sell our house. If he should be put in a nursing home within the next 3 years, how can he deed it to me to avoid medicare problems? Would I actually have to buy it? If yes, would he be able to apply the money I give him to debts I owe? Thank you.
Answer Laura,
If you planning on moving in to the home before your father plans or applies for a nursing home. You can have him transfer the deed to you ,you just pay for transfer taxes and recording fees at the court house. If you are planning on paying him for the home before he moves on,what he does with the money is up to him (no restrictions). Now if you wait till he has to be put in a nursing home you can have some complications with his estate and paying for his bills. If his wishes are to deed the home to you beforehand, I recommend setting an appointment with an attorney for a consultation.
