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Pennyk - In this instance the nursing home required the bond to be the total of her assets up to $500k. I am finding that many have this same system. I have come across a couple which only require about $250k.

Penny K, paying interest on her assets of $360k at the current interest rate of 8.16% would be $29k pa. If she kept her unit and rented it out the income net of costs would only be $12k pa so it seems to me that selling the unit and paying up front is a better option, unless I am missing...

Can't find anything in the search function about buying property from family members. Our situation is our mother is needing to sell her unit which we think would realistically sell for $350k. We are trying to reduce her asset base as if she goes into low care she will lose the use of all her...