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• real or personal property.

It does not apply to liquid resources such as stocks and bonds. An example of this exemption is real property which is worth little on the market, or which would be very difficult to sell because of the location or condition of the property.

The insignificant return determination for real and personal property must be calculated off-line and the result entered on Real Property page. If the sale of the real or personal property would result in an insignificant return the property will be exempt, and its value will not be counted as a resource.

The insignificant return determination for vehicles is completed by the eligibility system based on the information entered. If the sale of a vehicle would result in an insignificant return, the vehicle will be exempt, and its value will not be included. There is no limit to the number of vehicles that a household can have determined as insignificant resources. Therefore, all vehicles should be checked to determine if they meet the standards for insignificant resources.

A jointly owned vehicle is determined to be an insignificant resource using the entire value of the vehicle instead of the proportionate value.

Significant return for real and personal property is considered to be a profit realized from the sale of at least $1500.

Significant return for vehicles is a profit from the sale after expenses are deducted, of at least $1,500.

Verification of a significant return is required to determine if a resource is exempt or countable.

Verification of the Fair Market Value (FMV) and all expenses necessary to complete the sale must be obtained to calculate if a significant return is likely. 2605.20.05 RESOURCE ELIGIBILITY DATE (S)

For applicants, the resource eligibility determination is based on the available countable resources as of the date of the interview. The eligibility system does not support this policy and uses the first day of the month to determine resource eligibility. Since it is rare for the resources to differ enough to cause the AG to be ineligible for the month of application due to this variance, a fiat must be done under this circumstance.

For open AGs, the projected value of resources for the first day of the recurring month is counted in determining resource eligibility. The projected value is based on the current value plus any new amounts which can reasonably be anticipated to be received and any subtractions that can reasonably be anticipated to occur, by the first of the month.

If the AG reports a resource change during the certification period which exceeds the allowable resource limit, the AG should be given an opportunity to update its entire resource statement. If it declines to do so or the resource value still exceeds the limit, the AG will be closed.