Q: How can my 71 year old mother get rid of a piece of land in FL.? She can’t afford it on a fixed income. She doesn’t want to use her little retirement that she has. It has to last her for a long time!
A: Questions need to be answered, is there a mortgage? are there co-owners?, is it a time share?. Is mom receiving Medicaid benefits that would be affected by her transferring property without fair consideration? If she owns it outright, she is not receiving Medicaid benefits, with no mortgage, you can sell it, let it go to Sheriff’s sale or donate it to a charity if you can find one who wants it. You should get an appraisal if you are donating it or letting it go so in the future, if called upon, you can demonstrate it was worth very little. You should probably bounce this off a Florida real estate attorney. In one of my estates, we had two lots located in a swamp in Florida that had little value and just let them go to tax sale.