elder law and real estate

[Justin Rank]

Hi everyone. I have a scenario I'd like to run by you. My older neighbor has been in the hospital for 18 months and I don't see her coming back. Her property is vacant and I do my best to at least keep the lawn at a decent length since he daughters do nothing more than pay the property taxes to keep it current. Her 2 daughters and her are all on the deed, all 1/3 owners. The property is paid off in full. Mom has no income so she is currently on Medicaid to keep her cared for. I'd like to buy the property, but there are some legal ramifications that come along with the mom selling the house. If you have assets you are not eligable for Medicaid until that asset is depleted. Since she is on Medicaid, if she sells the house she would be liable for back charges she has incurred plus all future medical expenses; that is IF she would get approved since she would have to reapply once her current coverage is dropped. That's not something that will work for her. I believe the property is a burden and the 2 daughters and would like to just be done with it. I could get a good deal since it's in such disrepair. I can fix ugly. What kind of offer can I write up that would give them a good option? I did learn that land contracts are considered an asset and Medicaid will make a fair market value of what the property is worth so that option is out. Thanks in advance.