Mom wants to give me her condo when she moves to the facility. What are the laws for giving, quick claiming or selling property before you move to an assisted living facility?

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my mother wants me to have the condo she owns when she moves to an assisted living facility soon...what are the "laws" for giving,quick claiming,selling" property bf you move to an assisted living facility? will they look at it as shes trying to show lilttle assets?..i do have poa as well.

Answers 1 to 3 of 3
If Mother has enough assets to pay her own way in the facility for at least five years, hey, no problem, she can do what she wants with her property.

If she might need to apply for Medicaid within the next five years, then giving away a valuable asset, or selling it for significantly less than the market value, will cause a penalty and she will not get Medicaid help for a certain period of time, based on the value of what was given away.

What is your mother's status with regard to needing financial assistance in the facility?
she lives in fla right now but facility will be in n.j. does this make any difference?
No. The basic rules for Medicaid are set at the federal level.

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