What to do if a senior needs to be placed intoa nursing home but she co-owns real estate with her daughter-in-law?

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What to do if a senior needs to be placed intoa nursing home but she co-owns real estate with her daughter-in-law?

Will the nursing home have any claims on the property since the daughter-in-law will still live there? They have a reverse mortgage?

Asked on July 1, 2011 under Real Estate Law, Illinois

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Does the senior who is being placed in the nursing home have enough funds to pay for the care in the new facility? When one is placed in a nursing home and assuming the person placed is not in a condition to sign the written agreement for the care, the custodian for the person would sign the contract for the placement and care.

In such a situation, most seniors have a trust or power of attorney set up for a third person to manage their assets for thier future care.

With the reverse mortgage in place as to the real estate as stated in your question, the lending institution will be paying a monthly dollar amount to the senior (through his or her representative) which should be used to pay the nursing care home. The reverse mortgage is a lien on the property and upon the senior's passing, the senior's Estate has the option to pay off the reverse mortgage or not. If not, the lender will sell the home to pay off the loan and any extra proceeds would be distributed to the Estate.

Presently the nursing home would not have any claims on the senior's home since it has no judgment or lien recorded on the property.


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