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Lifetime Estate and Gift Deeds? |
My elderly parents did a gift deed that stipulated a lifetime estate on their farmland. They did this so they would qualify for medicaid. Can a gift deed that was filed at the courthouse be rescinded or taken away if they change their mind? My mother passed away and I think my father wants to give it to his new wife. So, once the deed was filed at the courthouse it is a done deal and he can't reclaim it and give it away to someone else? They did a gift deed to me and now I think he wants to cancel it and give it to his new wife. Off hand, I'd say no. That's why it's called a GIFT. The original owner GIVES it to someone else. |
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