Legal Question in Real Estate Law in Indiana
Real Estate
I've been told that a nursing home can go back five years from when a person is admitted to take contol of any property the person had owned and given to their children. Can the property be sold for a dollar to the children without the nursing home being able to take it?
2 Answers from Attorneys
Re: Real Estate
No. It has to be an arms length transaction, in other words a sale at fair marekt price. Otherwise, everyone would sell things to a family member for a $1 and there would really be no sense in having such legislation.
Re: Real Estate
No. It has to be an arms length transaction, in other words a sale at fair marekt price. Otherwise, everyone would sell things to a family member for a $1 and there would really be no sense in having such legislation.
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