Lifetime Estate and Gift Deeds?

Question

My elderly parents did a gift deed that stipulated a lifetime estate on their farmland. They did this so they would qualify for medicaid. Can a gift deed that was filed at the courthouse be rescinded or taken away if they change their mind? My mother passed away and I think my father wants to give it to his new wife. So, once the deed was filed at the courthouse it is a done deal and he can't reclaim it and give it away to someone else? They did a gift deed to me and now I think he wants to cancel it and give it to his new wife.

Answer 1

Off hand, I'd say no. That's why it's called a GIFT. The original owner GIVES it to someone else.

Now for the family question. What will happen to your relationship with your father if you don't give it back?

Now for the criminal question. Will you and your father be indicted for FRAUD? He gave up title to the property to get Medicade. If he gets it back the state can say that the transaction was an attempt to defraud the government.

If your father persists, get a real estate attorney to review the issue.