TANF, SNAP, Children on TP 32 and Children on TP 56

A person leasing a vehicle is not generally considered the owner of the vehicle because the:

vehicle does not have any equity value,

person cannot sell the vehicle, and

title remains in the leasing company's name.

A leased vehicle is exempt until the individual exercises the option to purchase the vehicle. Once the individual becomes the owner of the vehicle, the vehicle counts as a resource.

The individual is the owner of the vehicle if the title is in the individual's name, even if the individual and the dealer refer to the vehicle as leased, and the vehicle counts as a resource.