Legal Question in Elder Law in Massachusetts

Gift of Equity-my grandmother home

I want to buy the home I currently live in. It is my grandmothers home. She has been in a nursing home for the last two years. I have been in her home since she left.

She and my mother (her daughter) own the home. I pay rent to my mother.

How can I go about buying this home the easiest way? The nursing home is involed since the home is my grandmothers only asset. I ahve been told that there mat be a way for my grandmother to ''gift'' the property to me. If that isn't an option can you advice me on other ways.

I live in Massachusetts.


Asked on 4/06/01, 2:35 pm

1 Answer from Attorneys
Harry Margolis Margolis & Bloom, LLP

Re: Gift of Equity-my grandmother home

If you pay your grandmother her fair share for her home, she will have cash which will make her ineligible for Medicaid. She will have to pay the nursing home out-of-pocket until she has used up the proceeds (though some gifting of some of the funds would be possible).

A key question is whether your grandmother and mother own the house as joint tenants or as tenants in common. If they are joint tenants, you are better off purchasing the house from your mother after your grandmother dies.

If your grandmother gives you her share of the house that will cause her to be ineligible for Medicaid for a period of time based on the value of the transfer.

To get specific answers the fit your situation, consult with a qualified attorney.

Read more
Answered on 6/09/01, 11:22 pm


Related Questions & Answers

More Elder Law questions and answers in Massachusetts