JOINTLY OWNED PERSONAL PROPERTY (AAM)

JOINTLY OWNED PERSONAL PROPERTY (AAM)

SR 15-10 Dated 02/15 Previous Policy

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Personal property resources which an assistance group member owns together with a non-assistance group member. The treatment differs according to when joint ownership of the resource was established:

Before November 1, 1995

Consider jointly owned personal property as being shared equally among the owners. Give individuals the opportunity to establish that they own more or less than an equal share. If the individual can establish that one or more of the owners owns more or less than an equal share, only consider the share actually owned by the assistance group member as a countable resource.

November 1, 1995 or Later

Consider personal property resources which an individual owns with someone who is not an applicant or recipient as belonging to the individual. *If more than one of the joint owners apply for or are receiving assistance, assume that each applicant/recipient owns an equal share. An individual wishing to rebut the presumption of ownership may submit a written statement with verification that includes:

• a corroborating statement from each other account holder

• if an account holder is incompetent or a minor, a corroborating statement from a competent adult aware of the circumstances surrounding establishment of the account

• account records showing deposits, withdrawals and interest in the months for which ownership is an issue

• if the individual does not own any of the funds, evidence showing that the individual can no longer withdraw funds from the account

• if the individual owns only a portion of the funds, evidence showing removal from the account of such funds, or removal of the funds owned by the other account holder(s), and redesignation of the account.

Treatment : Countable Resource

Exception : The addition of a joint owner to an asset must be evaluated as an asset transfer. See Transfer of Assets .

See Real Property for the treatment of jointly owned real property.

References : He-W 656.03, RSA 167:4-a, RSA 167:7,IV