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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 7 Chapter 5 Assets

PERSONAL INCOME-PRODUCING PROPERTY Movable belongings, exclusive of land and buildings, which are annually producing income consistent with their CURRENT MARKET VALUE. See REAL INCOME-PRODUCING PROPERTY. PRINCIPAL PLACE OF RESIDENCE The dwelling the client considers his fixed, established home. The principal place of residence must be a home in which the individual has lived. PROCEEDS FROM SALE OF HOME Net amount received by the seller, after satisfaction of all encumbrances and sale expenses. PROMISSORY NOTE A written, unconditional agreement whereby one party promises to pay a specified sum of money at a specified time, or on demand to another party. It may be given in return for goods, money loaned, or services rendered. PURE SNAP AGS Every person included in the SNAP AG receives TANF-funded benefits, SSI, or is authorized to receive information and referral services. Pure SNAP AGs are categorically eligible for SNAP benefits. REAL INCOME-PRODUCING PROPERTY Fixed property, including land and buildings, that is annually producing income consistent with its CURRENT MARKET VALUE. See PERSONAL INCOME-PRODUCING PROPERTY. REBUTTAL The process whereby the client refutes the Department of Human Services’ (DOHS) presumption of unrestricted access to resources. RECREATIONAL VEHICLES AND EQUIPMENT May include, but is not limited to, boats, snowmobiles, campers, camper-trailers, airplanes, and similar equipment that do not meet the definition of a vehicle. Also includes ATVs and similar vehicles that do not require licensing, even though they may be licensed. This does not include sporting equipment or toys. RESOURCES Income and assets.