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Personal property is any property that is not real property. The term encompasses such things as cash, tools, life insurance policies, mobile homes, automobiles, bank accounts, etc. Any income retained the month following the month of receipt and later, is subject to resource evaluation. Evaluate resources at market value, less encumbrances. When the combined value of all countable resources does not exceed the resource limit, verification of encumbrances is not necessary. When the value of countable resources is under the resource limit on any day of the month, the customer is eligible for that month. All resources must be reported at the time of application, any time there is a change, and at redetermination. F-115.1 Ownership/Availability (Non-Spousal Impoverishment) If institutionalized prior to 09/30/1989, contact the Eligibility and Payments Unit for non-spousal impoverishment rules. F-115.2 Resource Provisions for Spousal Impoverishment Cases This section applies to ALL persons who begin a "continuous period of institutionalization" (medical/mental institution or a combination of both) on or after September 30, 1989 and who have a spouse in an independent living situation. These rules apply regardless of state laws relating to community property or to the division of marital property. If the community spouse dies prior to an eligibility decision, spousal impoverishment rules do not apply. Treat the case as a non-spousal case and apply the treatment of resource rules accordingly for all requested months of coverage. If the institutional spouse dies prior to an eligibility decision, spousal impoverishment rules apply. Treat the case as a spousal case from the date of application through the date of death of the institutional spouse. F-115.2.1 Ownership/Availability Sole Ownership - All of the resource evaluated at market value less encumbrances is available to the applicant/recipient or community spouse. Shared Ownership - Shared ownership of real or personal property means two or more people own it simultaneously. • Resource Jointly Owned Between Spouses a Liquid resources (bank accounts, certificates of deposit, stocks, bonds, etc.) Consider all liquid resources held jointly between spouses as available, in their entirety, to the institutionalized spouse only. Do not consider them as an "available resource" to the community spouse when determining the community spouse resource allowance. b Non–liquid resources (real property, vehicles, etc.) F-115 LONG TERM CARE SERVICES Division of Social Services Medical Assistance Manual 08 Aug MTL 08/25 RESOURCES FOR PERSONS INSTITUTIONALIZED AT LEASE 30 CONSECUTIVE DAYS