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Old 08-09-2005, 07:04 PM
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Join Date: Aug 2005
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Mediciad and house purchase

What is the name of your state? Ohio
My Mom is in a nursing home on Medicaid. My father passed away recently and as such we need to sell Mom's house to allow her to stay in the nursing home. The 4 kids have an LLC which we would like to use to purchase the home. One of the LLC members has the Power of Attorney for Mom. What is the minimun percentage of the fair market value we can pay for the house and remain legal (i.e. 100%, 90%, 70% etc)? Thanks
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Old 08-10-2005, 11:10 AM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Quote:
Originally Posted by teblet
What is the name of your state? Ohio
My Mom is in a nursing home on Medicaid. My father passed away recently and as such we need to sell Mom's house to allow her to stay in the nursing home. The 4 kids have an LLC which we would like to use to purchase the home. One of the LLC members has the Power of Attorney for Mom. What is the minimun percentage of the fair market value we can pay for the house and remain legal (i.e. 100%, 90%, 70% etc)? Thanks
**A: I do not know.
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