Though a deal for deed can be quite a practical solution to promote real estate, it could become complex when the vendor is struggling with long run care fees and wishes to obtain Health care Assistance. The County, who administers Professional medical Help, will treat a contract for deed in two strategies:
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The County treats the principal balance owed to the seller being a liquid asset. Put simply, the County will rely the stability being an readily available asset to you personally and count it against your asset limit Except if you deliver proof of making sensible efforts to offer the agreement for deed, or offer evidence that there's no industry value for just a sale on the agreement fascination. Put simply, you'll need to do at the very least three matters:
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