2) Transfers that do not include the customer’s resources – Example #2

The customer, co-signed a car loan for her niece. The customer’s name is listed on the title and the loan documents. The niece provides proof that she made all of the payments for the car loan, as well as the maintenance of the car. After the car was paid off, the niece gave the vehicle to charity.

Even though the customer’s name was on the title, the equity in the car belonged only to the niece ( MA704C.1 ). The vehicle was not the customer’s resource.