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S N A P M A N U A L
453 (O) Installment Contracts Installment contracts for the sale of land or buildings if the contract or agreement is producing income consistent with its fair market value. The exclusion will also apply to the value of the property sold under the installment contract, or held as security in exchange for a purchase price consistent with the fair market value of that property.
(P) Lien placed on non-liquid assets Non-liquid asset(s) against which a lien has been placed as a result of taking out a business loan and the household is prohibited by the security or lien agreement with the lien holder (creditor) from selling the asset(s).
(Q) Life insurance policies Cash value
(R) Pension plans or funds The cash value of pension plans or funds Keogh plans which involve no contractual relationship with individuals who are not household members and individual retirement accounts (IRA's) will not be excluded under this section; (S) Property (real or personal) directly related to the maintenance or use of an excluded vehicle Property, real or personal, to the extent that it is directly related to the maintenance or use of a vehicle excluded under Section 10.7 Exclusions from Resources. Only that portion of real property determined necessary for maintenance or use is excludable under this provision. For example, a household which owns a produce truck to earn its livelihood may be prohibited from parking the truck in a residential area. The household may own a 100-acre field and use a quarter-acre of the field to park and/or service the truck. Only the value of the quarter-acre would be excludable under this provision, not the entire 100-acre field.
(T) Property essential to employment/self- employment Property, such as farm land or work related equipment, such as the tools of a tradesman or the machinery of a farmer, which is essential to the employment or self- employment of a household member. Property essential to the self-employment of a household member engaged in farming will continue to be excluded for one year from the date the household member terminates his/her self- employment from farming.