Deed Transfer (cont.)  It is very hard to set aside a deed change, or reverse it  Even if senior were sick or confused, didn't read what he/she signed, or changed their mind later, these are not reasons that will put your deed back into their own name alone.
{"Image DocumentName": "Deed Transfers (cont.) Cons to adding another person to deed:", "Image ImageDescription": "Senior no longer owns the house. A low-income senior will no longer be eligible for real estate tax rebates, discounts on utilities, or homeowner repairs grants. A joint owner may take out a loan or mortgage against the property and senior risks losing their home if the other person stops paying the loan. Senior cannot sell their house without the permission of the other person on the deed. The other owner can move into the property whether senior wants them to or not. The other owner may seek to partition the property and have court order the property sold so that the other owner can get their financial share of the property. The other owner who does not reside in the property may request payment of rent from senior for their sole use of the property. Medicaid eligibility may be compromised. Judgments against other co-owner will become liens on the property.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}