1/2 OWNER OF DOUBLE GOING TO NURSING HOME

[4312KIM]

MY HUSBAND AND I ARE ON THE DEED TO A DOUBLE HOUSE WITH HIS 94 YEAR OLD GRANDMOTHER. THE HOUSE WAS OWNED BY MY HUSBAND'S FATHER AND HIS MOTHER ALONG WITH THE GRANDMA AND WHEN MY HUSBAND'S MOTHER PASSED AWAY WE RECEIVED THE BOTTOM OF THE HOUSE. THE HOUSE WAS IN VERY BAD SHAPE AND WE INVESTED ALOT OF TIME AND MONEY TO FIX IT UP. INCLUDING NEW PIPES THROUGH OUT, NEW SIDING AND WINDOWS WE GUTTED THE WHOLE DOWNSTAIRS (OUR HALF) AND REFINISHED EVERYTHING COMPLETELY WITH A NEW BATHROOM, AND KITCHEN. NOT TO MENTION FIXING UP THE BASEMENT AND GARAGE. AND WE PAID FOR EVERYTHING WITH THE THOUGHT THAT WE WOULD EVENTUALLY GET THE WHOLE HOUSE. WELL HIS GRANDMA MOVED IN WITH HIS DAD ABOUT A YEAR AGO AND DIDN'T WANT TO SELL US HER HALF BECAUSE SHE IS FROM THE OLD COUNTRY AND THINKS THAT WE'D THROW HER OUT ON THE STREETS. (THOUGH MY HUSBAND'S FAMILY AND I DO EVERYTHING FOR HER!!) NOW SHE HAS GOTTEN TO THE POINT WHERE SHE CAN'T TAKE CARE OF HER SELF AND HER SON CAN'T EITHER AND WE ARE CONSIDERING PUTTING HER IN A NURSING HOME. WHAT WE NEED TO KNOW IS WHAT IS GOING TO HAPPEN TO OUR HOUSE IF SHE GOES TO A NURSING HOME. WE MOVED OUT OF THE HOUSE 2 YEARS AGO AND HAVE BEEN RENTING OUR HALF. HER HALF IS JUST SITTING THERE AND NEEDS ALOT OF WORK. OBVIOUSLY OUR HALF IS WORTH ALOT MORE THAN HERS AND IT WOULD BE A CRIME IF WE HAD TO SELL THE HOUSE AND GIVE A NURSING HOME 1/2 OF THE MONEY. BEFORE WE FIXED UP THE HOUSE ABOUT 6 YEARS AGO IT WAS PROBABLY NOT WORTH MORE THAN $45-50,000.00, NOW I THINK WITH WHAT WE HAVE DONE IT WOULD PROBABLY GO FOR $90-100,000. IS THERE ANYTHING WE CAN DO AHEAD OF TIME OR ANYTHING WE CAN DO AT ALL TO PROTECT OUR INVESTMENT IN THE HOUSE??

[Edited by 4312KIM on 01-05-2001 at 10:26 PM]