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5602 Volume III | Chapter 5

MISSISSIPPI [ RESOURCES: TRANSFER OR RESOURCES ]

Revised 05 - 01 - 06 transferred resources, when added to other countable resources, exceed the allowable resource limits. EXAMPLE: The parent in a TANF household, who has $1750 in a bank account, transfers a lump sum insurance settlement amount of $1500. Therefore, $1500 would be added to the $1750 in the bank account for a total of $3250. The amount in excess of the maximum limit of $2000 is $1250. The household would be disqualified for 6 months using the chart below. The following chart will be used to determine the period of disqualification: Amount in Excess of Period of the Maximum Limit Disqualification $ 0 - $ 249.99 . . . . . . . . . . . . . . . . . . 1 month $ 250 - $ 999.99 . . . . . . . . . . . . . . . . . . 3 months $1000 - $2999.99 . . . . . . . . . . . . . . . . . . 6 months $3000 - $4999.99 . . . . . . . . . . . . . . . . . . 9 months $5000 – and up . . . . . . . . . . . . . . . . . . 12 months

Once the disqualification period has been correctly imposed, it cannot be rescinded even if the household takes steps to have the transferred resource returned. EXAMPLE: Ms. Brown transferred property in order to qualify for TANF. The transfer renders her household ineligible for 6 months. After serving 2 months of the disqualification period, Ms. Brown reapplied for TANF and informed the worker that the property had been deeded back to her. She further stated that she was attempting to sell the property and had listed it with a real estate agent. Ms. Brown must serve the four (4) remaining months of the disqualification period before she can be reapproved for TANF. SALE OF REAL PROPERTY Since the purpose of the retention of real property is to provide shelter or to produce income, determine whether the applicant has sold his real property other than the home during the two years preceding the date of application. At the time of application or redetermination, ask the individual whether he expects to sell his property. If he does, tell him that the agency will: 1. Expect him to sell the property at least for the current fair market value. MISSISSIPPI

Revised 05 - 01 - 06 Volume III | Chapter 5