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A life estate is a legal right to live in a home as long as the life estate holder lives.  That right is reflected on the deed so it is more than simply a lease for life.  The ownership, in essence, is divided into two parts.   An individual who owns

Not all transfers are subject to a transfer penalty.  The home in many ways gets special status, including when it comes to transfer rules.  The following transfer of the applicant’s home is exempt if made to: 1.            The Medicaid applicant’s spouse 2.            A child of the Medicaid applicant under age 21 or