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Selling Home to Child for Less Than Value While Receiving SSI

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A

ARojas

Junior Member
What is the name of your state (only U.S. law)? California

I'm 60 years old, disabled for life and have been receiving SSI for 18 years. Would there be a penalty if I sold my house to my child for less than the market value?
 


LdiJ

LdiJ

Senior Member
ARojas said:
What is the name of your state (only U.S. law)? California

I'm 60 years old, disabled for life and have been receiving SSI for 18 years. Would there be a penalty if I sold my house to my child for less than the market value?
Click to expand...
Unless you would use the money to immediately buy another house, it will cut off your SSI until the money you gain from the sale of the house is used up.
 
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