Does home have to be sold?

Discussion in 'Selling of Home' started by Kenz, Feb 9, 2017.

  1. Kenz

    Kenz Newbie

    I'm currently a joint owner on the home I occupy with my father, who is receiving A&A benefits. If/when he needs to be moved into assisted living, do I have to sell our home or will his benefits simply transfer from me (as his caretaker) to the assisted living facility?
     
  2. Kaylin

    Kaylin Hero Member Staff Member

    Since you both own the home you wouldn't necessarily have to sell the home once he moves into assisted living. If he owned the home by himself the VA would see that as an asset and would most likely reduce his A&A benefit until he spent down the money he made from selling the home. You might also want to update the VA on his move into an ALF because he may get an increase in his A&A monthly benefit amount if it's not at the top amount already.

    If you want to update them when he moves to an ALF, submit a Statement in Support of Claim form 21-4138 letting the VA know of his move along with a Statement of Occupancy from the facility (ask the facility for this paper), and a Nursing Home Status Statement form (mark out nursing home and replace with "ALF"). You can find all of these forms on VeteranAid.org
     
  3. Kenz

    Kenz Newbie

    Thank you so much for your help! I was worried that we would have to sell the home. That is quite a load off my mind. Many thanks again!!
     
    Kaylin likes this.
  4. Kaylin

    Kaylin Hero Member Staff Member

    You're welcome! Is your father getting any money from moving out of the home since he is the co-owner? I figured he is not but just to be sure...thought I'd ask.
     
  5. Kenz

    Kenz Newbie

    He has not moved out yet. I'm trying to be proactive and get these kinds of questions answered before we get to that point.

    Not sure I understand your question, though. If we were selling the home I assume we would split the profits.

    Thanks again!
     
    Kaylin likes this.
  6. Kaylin

    Kaylin Hero Member Staff Member

    Exactly - that was my question. But since you are not selling the home it shouldn't matter and none of the home value will count as income since you will be the sole owner.
     

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