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E-245 RESOURCES Resources are defined as those assets, both real and personal, which an individual owns and can apply, either directly or by sale, to meet their basic needs of food, clothing, shelter and medical costs. All resources and changes in resources must be reported. E-245.1 Ownership/Availability of Resources Sole Ownership - Sole ownership of real or personal property means only one person may sell, transfer or otherwise dispose of the property. All of the resources evaluated at market value less encumbrances is available to the customer. Shared Ownership - Shared ownership of real or personal property means two or more people own it simultaneously. The following are common types of shared ownership:  Tenancy-In-Common -Two or more persons each have an undivided fractional interest in the whole property for the duration of the tenancy. These interests are not necessarily equal. One owner may sell, transfer or otherwise dispose of his share of the property without permission of the other owner(s); but cannot take these actions with the entire property. If a tenant-in-common dies, the deceased’s interest passes to his/her estate or heirs. Count the fair market value less encumbrances of the customer’s property share.  Joint Tenancy - Each of two or more persons have one and the same undivided ownership interest and possession of the whole property for the duration of the tenancy. This means each owner owns ALL the property. If a joint tenant dies, the survivor becomes the sole owner. If more than one joint tenant survives, the survivors become joint tenants of the entire property interest. Count the total fair market value less encumbrances of the entire property.  Tenancy By The Entirety (Married Couples only) -This type of ownership can only exist between married couples. The wife and husband as a unit own the entire property and can be sold only with the consent of both parties. However, if a legal divorce occurs, the former spouses become tenants-in-common, and one can sell his/her share without the consent of the other. If one spouse dies, the survivor becomes the sole owner. Verify whether the customer’s spouse will give permission to sell the property. If permission cannot be obtained, DO NOT count the customer’s one-half share of the property. Exceptions: When a resource is owned jointly by more than one TANF/Medicaid applicant/recipient (other than a community spouse), divide the resource equally among those applicants/recipients to whom available. When a customer is a representative payee or legal guardian managing someone else's funds, these funds are not considered the customer's resource when they are kept in an account separate and apart from the customer's monies AND can be identified as being received and designated for someone other than the customer. E-245.2 Treatment of Resources Resource counting rules vary by MAABD group. Apply the following rules based on the MAABD program being evaluated E-245 Division of Welfare and Supportive Services MAABD INCOME AND BUDGETING Medical Assistance Manual RESOURCES MTL 09/24 NOV 24