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Old 05-11-2009, 09:42 AM
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Join Date: May 2009
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Quit claim

What is the name of your state (only U.S. law)? N.H.
In New hampshire what is the best way(easiest way) for my father to transfer a house to me that i bought off him. He is worried that if we do a quit claim ,if he ends up in a nursing home they will take the house.Is this true? What are the laws regarding that?
  #2  
Old 05-11-2009, 09:56 AM
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Join Date: Feb 2007
Posts: 8,264
The bigger issue is that if you don't have proof you paid full market value for the house he could be declared ineligible for medicaid. You probably want to record the sale and the actual consideration paid rather than just a quit claim. Further in the long run it will make it easier for you when you resell. I'd pay the couple of hundred for a lawyer to do the deed right.
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Old 05-11-2009, 12:50 PM
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Join Date: May 2000
Location: Catatonic State
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Yes, there could be tax and other consequences.
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