415.29 Verification of Asset Transfers (AAM)

415.29 Verification of Asset Transfers (AAM)

SR 98-09 Dated 02/98 Previous Policy

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The individual must provide third-party (collateral) documentation to verify:

• The transfer or disposal of assets, and

• That fair market value was derived from the transfer; or

• That assets were transferred for purposes other than qualifying for assistance; or

• If claimed, that undue hardship exists.

Deny or terminate assistance for the entire assistance group for failure or refusal to provide necessary verifications.

Presume assets were transferred for the purposes of qualifying for assistance if the individual fails or refuses to document that the asset was not transferred for purposes of qualifying for assistance. Deny or terminate assistance in accordance with the appropriate penalty periods. See Sections 415.21 , Penalty for Transferring Assets - Financial Assistance, and 415.22 , Penalty for Transferring Assets - Medical Assistance.