Disposing of House for Less than Fair Market Value

Q An elderly couple at our assisted site owned a house that their son was living in. Last year, they sold it to him. I understand it was a “sweetheart deal,” allowing him to buy it at very low cost. For recertification purposes, what is the rule about disposing of an asset for less than fair market value?

Full Article Access:

Full access to complete articles from Assisted Housing Management Insider is for subscribers only.

Not yet ready to subscribe?