415.15 Allowable Property Transfers (AAM)

415.15 Allowable Property Transfers (AAM)

SR 96-02 Dated 01/96 Previous Policy

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The following is an all-inclusive list of allowable property transfers done by an institutionalized individual that are exempt from the asset transfer penalty:

• The title to the home was transferred to any of the following—the individual ’ s:

- spouse,

- child who is under 21, or

- child who is blind or permanently and totally disabled.

• The title to the home was transferred to the individual ’ s child who meets all of the following:

- who is age 21 or over,

- who is not blind or permanently and totally disabled,

- who resided in the individual ’ s home for a period of at least 2 years immediately before the individual ’ s admission to a nursing facility or other medical care facility, and

- who provided care to the individual, which permitted the individual to reside at home rather than in a medical facility.

• The title to the home was transferred to the individual ’ s sibling who meets all of the following:

- who has an equity interest in the home, and

- who resided in the home for a period of at least 1 year immediately before the individual ’ s admission to a nursing facility or other medical care facility.

• Assets were transferred to any of the following:

- the individual ’ s spouse,

- another person for the sole benefit of the spouse, or

- a child who is blind or permanently and totally disabled.