Transfers By The Resident. The Resident and the Responsible Party understand that the Resident’s ability to qualify for Medicaid coverage could be impaired by certain transfers of assets by the Resident. They further understand that the purchase by the Resident or his or her spouse of an annuity contract, life estate interest in a home, loan, promissory note or mortgage will be considered a transfer under certain circumstances for Medicaid eligibility purposes. The Resident and the Responsible Party warrant and represent the following:
(a) Except as set forth below, they do not have any knowledge of transfers by the Resident or his or her spouse within the last five (5) years (i) of assets for less than their fair value or
Transfers By The Resident. The Resident and the Resident Representative/Sponsor understand that the Resident’s ability to qualify for Medicaid coverage could be impaired by certain uncompensated transfers of assets by the Resident, or transfers of assets for less than fair market value. They further understand that the purchase by the Resident or his or her spouse of an annuity contract, life estate interest in a home, loan, promissory note or mortgage will be considered a transfer under certain circumstances for Medicaid eligibility purposes. The Resident and the Resident Representative warrant and represent the following:
