My partner & I share a home that he previously owned. He took out a RM, which I paid off, and now the home is owned by a rev trust in both names. We have been together for about 12 years. We live together but are not married. The home is now owned by a living trust in both our names and I am paying the mortgage (from the RM). He has a mild form of dementia. He could not live alone but he is of sound mind. We are pretty comfortable in our home. We both have social security income. I work part-time. At some point one or maybe both of us will need nursing home care.
Usually, if ur SO was a Medicaid recipient, you would remain in the home because the house is exempt. But upon his death, the house is now an asset that Medicaid can recover from. But because you live there a lien would be placed on his half and satisfied at time of ur death, you leave or sell the home. But you have a trust.
See an elder lawyer very well versed in Medicaid law.
Is the RM still open, and still a lien against title? I'm also wondering how your partner obtained the RM but you're making the payments, apparently w/o being a co-mortgagor. Your partner actually is still responsible for the RM, and I'm wondering how the RM mortgagee allowed or agreed that he could substitute you for himself, thereby apparently assuming his responsibility under the RM.
There's a missing link in the chain of responsibility. Could you clarify?
Who specifically executed the Living Trust? Him? Both of you? Was the home then retitled to the Trust?
I am concerned for you, and hope you will check this out with a legal professional in your area. Best out to you and your partner.