Transfer of Interest in Real Estate to Child
August 24, 2009
Appellant and child gave a mortgage to Bank. Proceeds of loan went into joint account of appellant and child. DSS treated the monthly repayment of the loan as a transfer to daughter for less than fair market value. Hearing Officer found that both the appellant and the child were liable for repayment of the loan. Therefore, payments from a joint account paying off the liability are not transfers for less than fair market value. The Hearing officer remanded the matter to DSS to review the countable assets of the appellant.