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- 1500 - Allowable Deduction $3500 - Countable Resources
When the individual is the sponsor of two or more aliens, the deemed number of resources is divided equally among the aliens.
Resources deemed to a sponsored alien are not counted in determining the eligibility of non- sponsored members of the alien's family, except to the extent the resources are available. (f42) 2640.00.00 TRANSFERS OF PROPERTY (S)
The transfers of certain real or personal property to another individual must be considered in relation to the law and/or regulations in effect on the date that the transfer occurred. 2640.05.00 PROPERTY TRANSFERS AFFECTING ELIGIBILITY (S)
The intentional transfer of assets by any member of the AG may result in disqualification of the AG for up to one year from the date of discovery of the transfer. (f43)
The AG may be disqualified if the AG transferred resources within the 3-month period immediately preceding the date of the application or any time after the AG is determined eligible for benefits. The disqualification will occur when the AG transferred resources knowingly for the purpose of qualifying or attempting to qualify for SNAP benefits.
(See Section 2640.05.10 for transfers which do not result in a disqualification.) 2640.05.05 DETERMINING THE PERIOD FOR DISQUALIFICATION (S)
The countable value is calculated by taking the value of the transferred resource and adjusting to that amount which would be considered a resource in the eligibility determination.
For vehicles, that requires a determination of the countable value in excess of the FMV minus the vehicle standard.
EXAMPLE 1:
An AG transferred a vehicle with a FMV of $7000. They also have $500.00 in a bank account and another car (which is used for employment) worth $5500. There are no elderly AG members. They will have a $3000 resource limit. The countable value is: $9000 - $4650 = $4350 (transferred vehicle) Total of $4350 is the countable value.