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    hank10's Avatar
    hank10 Posts: 3, Reputation: 1
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    #1

    Feb 15, 2009, 02:58 PM
    Who becomes the owner to the public once contract for deed is signed?
    Good day everyone,

    I filed a contract for deed with my son through the court 2 years ago.

    Now, I live in GA and want to apply for Medicaid, and my case worker is saying that I'm over resources because this house, the one that is being sold to my son through a contract for deed, is still under my name.

    Should this house be counted as my house when I have a purshased agreement filed with the court? The title is under my name still but the house now belongs to my son, and titlle will be transferred to him once he finishes paying for the house/contract.

    Please help me with this... I need it!

    Thank You!
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Feb 15, 2009, 03:00 PM

    On a contract for deed, ( even if you file it at the recorder of deed) you are still the owner of it, until he pays you in ful and you sign the deed over to him.

    But no, the house does not "belong" to him until he pays it in full.

    If you own the house free and clear, no loan, you can draw up a loan agreement and actually sign the home over to him.
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