![]() |
Foreclosure Forum |
|
Re: Medical Bills- Joint tenancyIn Reply to: Medical Bills- Joint tenancy posted by Anna on December 10, 2003 at 1:46 AM : My friends husband has died, she wants to know if she can sell it to me. The title is clear and free of any liens. Her husband had a long term illness which medical has paid most of and he had regular insurance like blue cross. She wants to know if she can sell the house to me or will she be required to hand over all the proceeds to mediCal. We live in calfornia. The house was owned in Joint Tenacy as husband and wife. Is she responsible for her husbands debt, and when escrow closes will she be required to fork over the proceeds to medical? Is she responsible for her husbands debt? I understand if a property is held joint tenancy it avoids probate? She also owns a corporation, could she just put her house in the corporation’s name and then sell it to me? ========================================================= Sorry about your friend's husband passing away. Here's my understanding (I'm no expert at Medi-Cal but I do have a relationship with key contact and keep them on my mailing list!): If Husband received Medi-Cal benefits from Dept of Health Services HIS debts will eventually have to be paid. Here's the good news: your friend has no obligation to pay the debts during her lifetime, only her heirs will probably get the bill after her passing. She may even find a way to avoid paying after her death from her estate via a good estate planning attorney, too. So, yes she can sell to you now, no fancy footwork is needed, she'll just file the affadavit death of joint tenant with husband's death cert. to remove his interest from the joint tenancy. Then she signs the deed to you. No one else to consult about debt, etc. Hope this helps Rick
Follow Ups: Post a Followup:
|
Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.
Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com
InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455