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contrast, when a liquid resource such as an account in a financial institution is held in common, the entire equity value of funds in the account is considered available to its owner. (2) Joint tenancy. Occurs when each of two (2) or more persons has one (1) and the same undivided ownership interest and possession of the whole property for the duration of the tenancy. In effect, each owner owns all of the property. One (1) owner may sell, transfer or otherwise dispose of their share of the property without permission of the other owner(s) but cannot take these actions with respect to the entire property. Upon death of the joint tenant, title automatically vests in the surviving joint tenant. While alive any joint tenant may convey the interest held to a third (3rd) party. After such a conveyance, the new parties own the property as tenants in common. (3) Tenancy in its entirety. The value of any resource owned in its entirety by a person is considered available to its owner and is included as such for deeming in Community Medicaid and the allocation of resources for Medicaid LTSS. (4) Proportional joint ownership. The value of shared property in which each person only owns their fractional interest in the property is determined by dividing the total value of the property among all the owners in direct proportion to the ownership share held by each. c. Counting Order. If excluded funds are combined with countable resources, it is assumed the countable resources are spent first. d. Prudent-person standard. The prudent-person standard is used when determining whether a lower fair market value for a resource is reasonable. For example, for property sold at an auction, the current fair market value is considered to be the highest bid unless there is evidence that the transaction constitutes a resource transfer rather than a sale. 5. Legal Factors Affecting Availability – A court restriction may make all or part of the resource unavailable. Other legal restrictions on resources may be included in: liens, domestic orders, divorce decrees, child support orders, probate matters, tax intercepts and garnishments, and/or bankruptcy proceedings. Other factors affecting the availability of a resource are specified below in § 3.7.2(A)(6) of this Part below and for LTSS eligibility purposes in Part 50-00-6 of this Title.