DyannaHunter
Junior Member
What is the name of your state (only U.S. law)? NY
My mom prepared a will and put her home in a family trust. Later, I was given a loan of cash to pay off my mortgage. I signed an interest-free promissory note with the condition that if and when I sell my house, the loan would be repaid to the trust. If my mom dies before I repay the loan, that portion would be deducted from my inheritence. My question is: If my mother needs to go into a nursing home, and her other assets are depleted, can the nursing home place a lien on her home? How would that effect my loan? Would I need to sell my house and repay the estate immediately? Thank you for any advice or assistance you may offer.What is the name of your state (only U.S. law)?
My mom prepared a will and put her home in a family trust. Later, I was given a loan of cash to pay off my mortgage. I signed an interest-free promissory note with the condition that if and when I sell my house, the loan would be repaid to the trust. If my mom dies before I repay the loan, that portion would be deducted from my inheritence. My question is: If my mother needs to go into a nursing home, and her other assets are depleted, can the nursing home place a lien on her home? How would that effect my loan? Would I need to sell my house and repay the estate immediately? Thank you for any advice or assistance you may offer.What is the name of your state (only U.S. law)?