415.13 Reasons for Transfers (AAM)

415.13 Reasons for Transfers (AAM)

SR 96-02 Dated 01/96 Previous Policy

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Acceptable reasons which may be used to prove the fact that the transfer was not made for purposes of qualifying for assistance include, but are not limited to , assets transferred:

. To prevent foreclosure or sale of the asset by the lienholder, thus preventing total loss of the asset;

. To meet the terms of an oral or written agreement which would be recognized as a legal contract in a court of law, including debts arising from such agreement, or

. For self support because the individual ' s income and resources were insufficient to meet basic needs or maintain upkeep of the property, and the individual ' s basic needs were provided for in return for the transfer, or the individual lived off the proceeds of the asset; and

. In the case of failing to cause assets to be received, the individual is not able to afford to take the necessary action to obtain the asset, or the cost of obtaining the asset is greater than the asset is worth.