Anonymous asked 6 years ago
My brother has a timeshare we can’t seem to get rid of. Will this disqualify him for Medicaid? No one will buy it and we can’t give it away. What do we do?
medicaidplanner Staff answered 6 years ago
While having a timeshare could disqualify your brother from Medicaid, owning a timeshare doesn’t necessarily mean your brother will be disqualified. To be clear, the only property that is generally exempt (not counted) from Medicaid’s asset limit is one’s primary home. Therefore, under normal circumstances, a timeshare is considered a countable asset and would likely disqualify your brother from Medicaid because the value of the timeshare would likely exceed the asset limit. See asset limits by state. Medicaid does, however, make an exception when the timeshare cannot be sold, which is the case with your brother.
Your brother must provide “proof” that the timeshare is for sale and despite his and your family’s best efforts to sell it, it cannot be sold. This “proof” might include a letter from the timeshare company indicating that the timeshare is for sale and they are not willing to buy it back. It might also include a letter from a real estate broker stating that the timeshare cannot be sold despite trying sell it.