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I think we need a quit claim deed?

  
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I think we need a quit claim deed?

Postby wal49 » Fri Mar 16, 2012 6:36 am

My husband and I are in our sixties. The deed to my husband's house is in his and his daughter's name with rights of survivorship. My husband is concerned that if he has to go into a nursing home in the future, it would force the sale of the house and the nursing home would claim it for his expenses.(We would not be able to pay privately) I know that property has to be transferred about 5 years prior to going to a nursing home. Should we do a Quit Claim deed as the best and least expensive way of transfer. Also, can "conditions" be put in a Quit Claim deed i.e. My husband wants to live in this property until he dies and also wants the property to be sold upon his death to cover obligations with his daughter then getting the remaining monies from the sale of the property. His daughter has no desire to live in this property now as she resides with her family about 100 miles from here. My husband just wants a way to protect this asset from confiscation by a nursing home or care facility in the future as it is his only big asset he has to leave to his daughter. The house is totally paid for with no mortgage, equity loan or any other encumbrance. The property is in the State of North Carolina.
wal49
 
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