Legal Question in Real Estate Law in Indiana

If I have a goal of transferring a piece of raw land to my son (only child) would this be best accomplished by 1. trust or will. 2. warranty deed. 3. sell to him . I am concerned about: losing health ins coverage and dont want the property to be able to be effected in the future. Im aware the 3 year look back is getting ready to change to 5. I will not ever want the property back. This is a secondary property for me.

Secondly, if I sold it to him can I sell it for the "tax assessed value" since there is no home on the property...and would this clear the property from a future lein if med problems occur?

Thanks.


Asked on 9/29/09, 2:43 pm

1 Answer from Attorneys

If your purpose is to avoide the look back period, an arms length sale at amrekt price is appropriate.

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Answered on 9/29/09, 7:22 pm


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