Regardless of the situation, Elder Law Attorneys see many situations where it makes sense to sell land or purchase land. For example, under the current Medicaid rules, a home and all contiguous property is exempt when applying for Medicaid. What if the applicant had cash and the property next door was “for sale?” One way to plan might be using countable cash to purchase exempt land. Of course, you would want to speak with your Elder Law Attorney about any other consequences, such as estate recovery or tax consequences.
If you are thinking about buying or selling land, EZ Elder Law can put you in touch with a licensed real estate agent or attorney who can help you.