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ESA SNAP Policy Manual 125 10.2 Maximum Allowable Resources/Assets The maximum allowable resources, including both liquid and nonliquid assets, of all members of the household must not exceed the current asset limit for the type of household. See Table 25.3.g, Asset Limits, for the current amounts. 10.3 Types of Resources/Assets Assets are either liquid or nonliquid. For SNAP:  Liquid assets have a cash value.  Nonliquid assets usually have an equity value. Fair market value is the wholesale value of an asset, without considering the amount the household owes on it. Equity value is the fair market value minus encumbrances or any amount legally owed on the asset. An asset that is converted from one type to another (e.g. an item is sold for cash) continues to be considered an asset. 10.3.1 Liquid Assets The following are types of liquid assets:  Cash on hand, including uncashed checks, drafts and warrants  Savings account  Checking account  Stocks, bonds, securities and mutual funds  Lump sum payments such as insurance settlements or inheritances 10.3.2 Nonliquid Assets The following are types of nonliquid assets, unless exempt as shown in Section 10.4, Exempt Assets:  Real property (land and building), mortgages, land contracts, life estates and life leases  Licensed and unlicensed boats, aircraft, campers and trailers  Tools and machinery for education, training or employment of the household 10.3.3 Lottery or Gambling Winnings Lottery or gambling winnings are a lump sum in the month received. When a household member wins substantial lottery or gambling winnings with a cash prize from a single game that is at or over the current asset limit for elderly or disabled households, regardless of whether Return