Is my mom able to sell her home?
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Is my mom able to sell her home?
My mother purchased a home in 1993
using a farmers home
administration loan.
She is now in an assisted living
facility and the mortage company
has been paying her taxes.
Is it possible to sell her home?
Asked on October 25, 2017 under Real Estate Law, North Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Yes, she can sell it, but has to sell it for "fair market value"--the fair, reasonable price for it. If she sells it for less than market value (e.g. to family) and the government seeks recovery of her assisted living costs (which they can do, if they are paid by Medicaid or some program affiliated with or funded by Medicaid), the government could very likely void or undo the transfer and get the house back, because a less-than-fair-market-value transaction in this circumstance would be seen as an attempt to hide an asset from the government and defraud it. So yes, she can sell it, but it should be a fair, reasonable "arms length" deal.
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