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Aged, Blind and Disabled Manual Section: Financial Eligibility Requirements Policy Manual Number: 110.045 Chapter: ABD Treatment of Resources: Ownership, Equity Value and Accessibility Legal Authority: 20 CFR 416.1201; 20 CFR 416.1208 1. Policy Statement A resource is real or personal property which has economic value. Resources can include, but are not limited to, cash, savings, investments, houses, land and vehicles. The household’s resources are evaluated for ownership, accessibility and equity value. All resources are countable unless specifically excluded by regulation. 2. Definitions Resource: Cash or other liquid asset or any real or personal property that an individual owns jointly or individually that could be converted to cash and used for medical support and maintenance. Resources are those assets the individual has on hand at the beginning of the month as opposed to income, which is any cash, wages, pensions or other funds received during the month. 3. Liquid and Non-Liquid Resources Liquid resources are cash and other resources that can be readily converted to cash. Examples of resources that are ordinarily liquid include (but are not limited to) stocks, bonds, mutual fund shares, promissory notes, mortgages, life insurance policies, financial institution accounts (savings, checking, time deposits/CDs) and similar items. The value of countable liquid resources is typically based on the specific value of the resource, e.g., the amount in the financial account, the cash surrender value, or the value of the note held by the individual. Non-liquid resources are resources that cannot reasonably be immediately converted into cash. A resource which has been determined to be non-liquid for any reason is not considered inaccessible or excluded simply because the value of the asset cannot be accessed at the time of application. The value of a countable non-liquid resource is based on the resource equity value.