Can I lose my home if the owner who carried the contract goes into assisted living directed by the state?

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Can I lose my home if the owner who carried the contract goes into assisted living directed by the state?

In 2015 I purchased my home owner carry. It was recorded legally through a title company. Now that 93 year owner who has dementia must go into assisted living by state direction. The daughter who is trustee of the owner’s estate tells me that the state can evict me and confiscate my home as an asset of the owner. I have been more than faithful to my part of the contract. Can the state do this?

Asked on August 5, 2017 under Real Estate Law, Oregon

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

The issue is whether the purchase was an "arms-length" transaction for "fair market value." The state can recover assets which were fraudulently hidden or transferred, such as for less than their fair value, in order to make sure that people pay their fair share of their own care and also to discourage fraudulent transfers, such as "selling" a home to family or a friend for a pittiance specifically to shelter it. But if you purchased the home for what it was worth, there was no fraud, and it is the fair price you paid for the home to the owner which replaces the home as an asset of the owner and to which the state has recourse. If this was a bona fide transfer for the fair price or value of the home, you should be ok.


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