Regulation .05 Determining Available Resources.
Regulation .05 Determining Available Resources.LinkCopy Citation
A.
Resources Retained.
(1)
The Public Assistance to Adults applicant or recipient may retain up to $2,000 in countable resources.
(2)
To determine the individual's eligibility, the local department shall measure the individual's countable resources against the maximum allowable amount as described in §A(1) of this regulation.
B.
Countable resources include but are not limited to:
(1)
Cash on hand;
(2)
Money in the bank;
(3)
Stocks;
(4)
Bonds;
(5)
Real property other than the applicant's or recipient's home; and
(6)
Trust fund principal when the individual:
(a)
Is the beneficiary; and
(b)
Has unrestricted access to the principal of the trust.
C.
Ownership of Home.
(1)
An applicant or recipient may retain the home the applicant or recipient owns if the:
(a)
Applicant or recipient was living in the home and plans to return to the home within 6 months from the date of the application for assistance; or
(b)
Spouse with whom the applicant or recipient was living when the applicant or recipient entered care is still living in the home.
(2)
If neither of the conditions described in §C(1) of this regulation exists, then the equity value of the home is considered a countable resource.
D.
Transfer of Property. Transfer of property while receiving assistance with the intent to defeat the purposes of the law and without the consent of the local department shall be dealt with as described in COMAR 07.03.01.