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NONLINKING FACTORS OF PUBLIC ASSISTANCE ELIGIBILITY 42-203 (Cont.) PROPERTY Regulations

42-203 BASIC DEFINITIONS (Continued)

42-203

HANDBOOK BEGINS HERE

.51 For questions concerning joint ownership of personal property, including vehicles, see Food Stamp regulations at Manual of Policies and Procedures Section 63-501.2.

HANDBOOK ENDS HERE

.6 Transfer of Property

A transfer of property means a change of ownership whereby an applicant or recipient through such transfer has divested himself in whole or in part of a resource actually available to him.

.7 Net Market Value (Real Property Only)

Net market value is the highest price that real property, less encumbrances thereon, will bring in a sale by a willing seller to a willing buyer in the ordinary course of business.

.8 Members of the CalWORKs Family

For purposes of this chapter, the members of the CalWORKs family are the child and his/her natural or adoptive parents and, when seeking aid for themselves, his/her eligible stepparents and needy caretaker relative, provided they are not receiving SSI/SSP benefits.

.9 Liquidated Sum

A liquidated sum, for purposes of this chapter, is that amount of money that can be realized from the sale or disposition of real property. See Section 42-203.1 for a definition of real property.

.10 Conversion of Property

For purposes of this chapter, conversion occurs when a recipient changes an existing resource from one form to another.

NOTE: Authority cited: Sections 10553 and 10554, Welfare and Institutions Code. Reference: Sections 10063 and 11155 (Ch. 270, Stats. of 1997), Welfare and Institutions Code.

CALIFORNIA-DSS-MANUAL-EAS MANUAL LETTER NO. EAS-98-03 Effective 7/1/98

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