I am POA/POHC .. I had been taking care of father for the last year had all accts pd up to date. I found him live in help also. After I got home he removed all the $$ in the joint acct and opened a new acct. Within 3 weeks demanded to go to hospital/nursing home. We are getting ready to sign incompent papers. he has 6500. in checking and owns his home. makes 2300 a month- I know I have to sell the house.( titled in his name AND mine) bought 21/2 yrs ago-should I sell now or let the nursing home in FL do it?? Getting pressured all the way around.......HELP !!! :)
If the house was bought two years ago, was it a cash deal, or is a mortgage involved? Why I ask, I wonder how much equity is in the house. If not much equity, if it were me, I would sell it quickly since half the equity is yours and the other half would be your Dad's. Hanging onto a vacant house isn't good, unless you want to rent it out and use half the rent to help pay for your Dad's care. But it all depends if you want to be a landlord.
I also agree with Babalou and Sunnygirl, get an Elder Law attorney.
What you may be thinking aout is MERP (Medicaid recovery), whereby a lien would be placed on the value of your dad's part of the house.
Who is pressuring you? Have you applied for Medicaid for your father? Have you consulted a cerified Eldercare attorney? I would be guided by her/his advice.
Don't make decisions based on what well-meaning friends, relatives or Realtors tell you. Use some of dad's funds to consult a lawyer with experience and certification and who is familiar with Florida law.