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c. Property acquired prior to the current union is involved. d. One spouse is in an institution. 5. Determine in whose name legal title is vested when one parent is an SSI recipient, the other parent is included in the TANF budget and there is real property other than the home involved. If title is vested in the SSI parent, do not consider it in determining TANF eligibility. If the TANF parent has title, test the property value against the resource maximum. 6. Consider one-half of other assets as belonging to the SSI recipient and the other half to the TANF parent, and thus to the children, when one parent is an SSI recipient and the other is included in TANF. 7. Test the value of children's resources together with the assets of a grantee relative when the children live with a grantee relative other than a parent and he wishes to be included in the TANF budget and has been determined to be needy. Refer to Chapter 6, Special Budgeting Procedures, for testing the resources and income of a grantee relative other than a parent. Distinguish the resources of the grantee relative from those of his spouse by determining in whose name legal title is vested for real property and considering the resources available to his spouse if jointly owned. If the resources of the relative when added to those of the children exceed the family maximum, the relative cannot be included. 8. Determine the fair market value of real property by securing a written statement from a real estate agent, the county tax assessor, or some other individual knowledgeable of real estate values in the community. When it is impossible to secure an appraisal from a qualified individual, convert the tax assessed value to market value. This is done by multiplying the tax assessed value by the percentage reduction applicable to the particular county. Your county tax assessor should be helpful in determining this information. 9. Determine the net value of either real or personal property by subtracting any verified legal debt from the value of the asset. Legal indebtedness may consist of a mortgage, lien, or notes. To be recognized, a debt must be in writing in the form of a legal document and properly recorded. Informal debts cannot be recognized. When a mortgage is found to be against both real and personal property, or two pieces of real property which must be considered separately, first ask the bank or lending agency to

5301 Volume III | Chapter 5 MISSISSIPPI [ RESOURCES: EVALUATION OF RESOURCES ]

Revised 05 - 01 - 06