Page 34

14. “Real property” means land and generally whatever is erected, growing on, or affixed to land. 15. “Representative payee” means an individual, agency, or institution selected by a court or the Social Security Administration to receive and manage benefits on behalf of another person. 16. “Resource transfer” means the conveyance of right, title, or interest in either real or personal property from one (1) person to another. The conveyance may be by sale, gift, or other process. 17. “Temporary absence” means a limited period in which an applicant/beneficiary is not residing in the home in which they have an ownership interest due to a hospitalization or convalescence with a relative. Temporary absences do not affect the determination of a person’s principal place of residence. 18. “Trust” means property that is legally held or managed by a person or organization other than by its owners. 3.6.3 State Responsibilities A. In calculating countable resources, the State’s responsibilities include, but are not limited to: 1. Scope of Resource Evaluation – The resources of the person seeking Medicaid and each member of the FRU when deeming applies are evaluated at the time of initial application, when a beneficiary reports, or the State receives, information about a change in an eligibility factor, including in conjunction with the annual renewal of Medicaid eligibility and when applying for Medicaid LTSS or moving across eligibility pathways. 2. Factors Affecting the Evaluation of Resources – The following factors must be considered when evaluating resources: a. Availability. The extent to which a resource can be legally accessed, and used for income support and maintenance, affects how resources are evaluated and counted. Availability is often affected when more than one (1) person has an ownership interest in the same resource. b. Liquidity. The ease of converting a resource into cash – sometimes referred to as a liquid asset – is considered when determining how it is treated for financial eligibility purposes. c. Equity value. Equity value of a resource is considered when determining the amount of a resource that counts. In general,