Ch. 10-Property

Question 1

What is the maximum allowable non-exempt (counted) resources limit for aged or disabled AUs?

Answer 1

$16,333

Question 2

What is the maximum allowable non-exempt (counted) resource limits for all AUs that are not Aged NO disabled?

Answer 2

$10,888

Question 3

What are personal property that is liquid resources?

Answer 3

Cash.
Savings or checking accounts.
Trust deeds
Notes receivable
Stocks or bonds
Non-recurring lump sum payments
Funds held in accessible Keogh plans

Question 4

What does State regulations require?

Answer 4

They require that personal property be considered when it is actually available.

Question 5

FOR property what is used a proof of ownership?

Answer 5

the applicant’s declaration of the property is considered sufficient proof of property unless this is information indicating probable ownership of property other than what is declared.

Question 6

What resources are excluded?

Answer 6

Real property held in trust.
Property purchased with funds from Title I or Title II of the Economic Opportunity Act.’
SSI/SSP.
One burial plot per each member of AU.
Income tax refund payments.
Inaccessible Resources.
Restricted accounts.
Retirement savings and pension plans.

Question 7

What are Restricted accounts?

Answer 7

Restricted accounts are where a RECIPIENT is allowed to retain cash reserves in be or more restricted accounts at. Financial institution.

Question 8

WHen can there be a temporary exemption on real property?

Answer 8

Real property that is not excluded is eligible to a one time only, NINE MONTH exemption from consideration in the resource limit. The AU signs a lien and agrees to make a good faith effort to sell the property so not over property limit.

Question 9

Can a home be excluded from the property limit?

Answer 9

Yes. As long as the AU is occupying the home and living in it it can be excluded.

Question 10

How can a vehicle be exempt as countable resource?

Answer 10

It must be a gift, donation or family transfer.
Used primarily (over 50%) for income purposes.
Used as the family’s home.
Necessary to transport a physically disabled household member

Question 11

What is self-certification for vehicles?

Answer 11

Applicant can self-certify the FAIR MARKET Value of all vehicle AND encumbrances.

Question 12

What forms must be used for the self-certification of vehicles?

Answer 12

SAWS 2 PLUS Appendix E at intake/RRR
CW 80 form for mid-period changes ONLY.

Question 13

What is EV stand for?

Answer 13

Equity Value

Question 14

What is the EV threshold deduction for a vehicle?

Answer 14

$25, 483

Question 15

When can vehicles be evaluated?

Answer 15

Intake,
RRR
Mid-Period Reporting
SAR

Question 16

What is transfer of Resources?

Answer 16

State regulations require a recipient receive fair market value fora property when recipient sells, exchanges or changes the form of property holding. This means if a customer does not put money in a restricted account but moves it around to not have it counted, this will make customer ineligible to program.