Clarksboro, NJ Estate Planning Law Firms & Lawyers

A deed has no legal effect until it is delivered.  Recording is the best evidence of recording.  If the recording date falls withing the 60 month Medicaid lookback period, the transfer might well be seen as a transfer for less than fair market value in an attempt to qualify for Medicaid. Please also note that in most states a quitclaim deed does not transfer title.  It is merely a public acknowledgement of an agreement to quit making whatever claim the maker may have to land, often to an easement over land.

You should definitely speak to someone about this transaction.  By putting the house in your name, you might be able to do some Medicaid planning, provided that your in-laws live in the house with you for at least two years prior to them needing Medicaid.  there is a section of the federal law that would allow for the house to be exempted, but it is a bit too complicated to explain here.  If you are in monmouth or Ocean counties, call my office.  Thoerwise,  look for someone who is a Certified Elder Law Attorney (CELA) who can explain the real estate, taxation, and Medicaid sides to this transaction. 

If the house in in joint tenants with right of survivorship, and your mother dies, the house will go to the two sisters, and there is nothing you can do to make sure that the other siblings receive a share of the house.  If the house is owned as tenants in common, all of the siblings will inherit mom's 1/3 shar eof the house, but again, there is nothing you can do to make them give you any portion of the proceeds.