Legal Question in Real Estate Law in New Jersey

my mother owns a condo in NJ and wants to transfer ownership to me and my sister as well as keeping 1/3 in her name. How do we do this? Can all the paperwork be handled without an attorney? Should my mother need to apply for Medicaid would 1/3 of the property be counted as part of her total estate?


Asked on 8/12/10, 9:42 am

1 Answer from Attorneys
Bernard J. Berkowitz Berkowitz & Raiken

Your mother can transfer the property to you in that way, however, her 1/3 will count towards Medicaid and the whole thing will count for five years towards her eligibility. The best way for you to do this would probably have her convey the property to her children with your mother retaining a life estate in the property. That means so long as she lives she has a right to live in the house and when she dies it already belongs to the children. You should have an attorney to this. Our office is experienced in these matters and can help your mother accomplish her goal.Call for an appointment.

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Answered on 8/17/10, 9:51 am


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