461-145-0420 Real Property For purposes of this rule, manufactured and mobile homes and floating homes and houseboats are treated in the same manner as (see real property OAR ). The applicant has the burden of proof of establishing the fair market value (see OAR ) of may be established by any real property. Fair market value methodology determined to accurately reflect the of the fair market value including the provision of an appraisal or comparative real property, market analysis performed by an impartial individual who is certified or licensed in the applicable jurisdiction. that is not income-producing or the home of the Real property financial (see OAR ) is treated as follows: group In the REF, REFM, and TANF programs, the (see equity value OAR ) of all that is not excluded under a TANF real property Interim Assistance agreement is counted as a resource. In the EA and ERDC programs, is excluded. real property In the SNAP program, is treated as follows: real property The of is excluded if the equity value real property is making a good-faith effort to sell the financial group real at a fair market price. property The of the is counted as a equity value real property resource if the refuses to make a good-faith financial group effort to sell. The resource is excluded if selling the resource would produce a net gain to the of less than financial group $1,500. In the OSIP, OSIPM, and QMB-DW programs: The of that was the home of the equity value real property is excluded if the is making financial group financial group a good-faith effort to sell the at a reasonable real property price, unless the in the home makes the client equity value ineligible under OAR (2)(a). The of all other is excluded if the equity value real property is making a good-faith effort to sell the financial group real at a reasonable price. The is counted property equity value after the is excluded for nine months unless real property
461-145-0420 Real Property For purposes of this rule, manufactured and mobile homes and floating homes and houseboats are treated in the same manner as real property (see OAR ). The applicant has the burden of proof of establishing the fair market value (see OAR ) of real property. Fair market value may be established by any methodology determined to accurately reflect the fair market value of the real property, including the provision of an appraisal or comparative market analysis performed by an impartial individual who is certified or licensed in the applicable jurisdiction. Real property that is not income-producing or the home of the financial group (see OAR ) is treated as follows: In the REF, REFM, and TANF programs, the equity value (see OAR ) of all real property that is not excluded under a TANF Interim Assistance agreement is counted as a resource. In the EA and ERDC programs, real property is excluded. In the SNAP program, real property is treated as follows: The equity value of real property is excluded if the financial group is making a good-faith effort to sell the real property at a fair market price. The equity value of the real property is counted as a resource if the financial group refuses to make a good-faith effort to sell. The resource is excluded if selling the resource would produce a net gain to the financial group of less than $1,500. In the OSIP, OSIPM, and QMB-DW programs: The equity value of real property that was the home of the financial group is excluded if the financial group is making a good-faith effort to sell the real property at a reasonable price, unless the equity value in the home makes the client ineligible under OAR (2)(a). The equity value of all other real property is excluded if the financial group is making a good-faith effort to sell the real property at a reasonable price. The equity value is counted after the real property is excluded for nine months unless
461-145-0420.docx