poa real estate transaction

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poa real estate transaction

I am poa for mother in law. her home was transferred into my husband’s name several years ago. she is now in advanced stages of dementia. as her poa can i sell back or transfer the home back into her name without her being present so that we can get a reverse mortgage on the home to take care of her nursing and medical needs and expenses.

Asked on June 22, 2009 under Real Estate Law, South Carolina

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

You can probably do that, but I very much doubt that it's a good idea.  I would very strongly urge you to talk to a lawyer who is familiar with elder law issues, before doing anything of the sort.  One place to find a qualified attorney in your area is our website, http://attorneypages.com

There's a good chance, depending on all the facts, that your mother in law can qualify for Medicaid, if she has less than a certain amount ($2,000, the last time I looked) in assets.  Medicaid will look back 3 years, for transfers at less than full market value, and add any difference back in;  if the sale to your husband was at least that long ago, the last thing you probably want to do is reverse that!


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