Updated over 7 years ago on . Most recent reply
Restrictive laws on selling home of person in Nursing Home?
In the past, I've infrequently purchased homes from people going into nursing homes, and have ran into situations like the owner only being able to sell it (for example) 70% of the homes value. I was under the impression it was the Nursing Home restricting that percentage, but I'm not certain. I've done a lot of researching, but I can't seem to find anything relating to that in particular. I feel like I must have misunderstood somewhere down the line. I haven't bought a home from someone going into a nursing home for a long time and now am presented with the opportunity to do so, so I am trying to get my facts straight so I can make an offer. Can anyone confirm whether there is a restriction of what the owner can sell the home for/what it can be bought for?
TIA!