Guam § 2905 - Resource Eligibility Standards.

§ 2905. Resource Eligibility Standards.

(a) Resources. For the purposes of this Article, the term “resources” shall include all real or personal

property, or any combination of both, held by household members.

(1) If the holdings are in the form of real property, the value shall be the assessed value determined

under the most recent Guam property tax assessment less the unpaid amount of any encumbrance of

record.

(2) If the holdings consist of money on deposit, the value shall be the actual amount thereof.

(3) If the holdings are in any other form of personal property or investment, except life insurance,

the value shall be the conversion value as of the date of application.

(4) The value of property holdings shall be determined as of the date of application and, if the

household member is found eligible, this determination shall establish the amount of such holdings.

(b) Disposition. The providing of assistance under this Article shall not impose any limitation or

restriction upon the individual’s right to sell, exchange or change the form of property holdings, nor shall

the care provided constitute any encumbrance on the holdings. However, any transfer of the holdings, by

gift or without adequate or reasonable consideration, shall be presumed to constitute a gift of property with

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intent to qualify for assistance. Such act shall disqualify the seller for assistance under this Article for future

claims for a period determined under standards established by the Administrator. In no event shall the period

of ineligibility be for less than the period of time that the capital value of the transferred property would

have supplied the person’s income or resource needs from the time of the transfer in excess of allowable

income or resource limitations.

(c) Resource Limitation. Household’s total resources shall not exceed Two Thousand Dollars

($2,000.00).

(1) Resources, personal and real properties are counted toward the resource reserve limit, for all

persons included in the assistance unit.

(A) Property of the caretaker, natural, legally liable, or adoptive parents, with whom the

children are living, are also included in the assistance unit’s property reserve.

(B) Properties are evaluated at market value less encumbrances.

(C) [No text]

(i) The following are considered real property: land, houses, mobile homes, and

immovable property attached to the land;

(ii) personal property is all assets other than real property.

(2) Client who is a “Representative Payee” or “Legal Guardian” or managing someone else’s

funds. These funds are not included in the client’s personal property reserve when they are kept in an

account separate and apart from the client’s monies and can be identified as being received and

designated for someone other than the client.

(d) Assets. In determining the liquid resources of a household applying for the Program, the following

shall be included as liquid assets, unless otherwise exempted in this Article:

(1) cash on hand;

(2) check or savings account amount;

(3) stocks or bonds; and

(4) shares in credit union wages from employment, including lump sum payments, time

certificates, other investments or cash holdings.

(e) Cash Resources for Medical Treatment Exempted. Cash resources that will be used for medical

treatment-related expenditures are exempted in determining liquid resources.

(f) Vehicles.

(1) The entire value of one (1) licensed vehicle shall be excluded for one (1) parent households

and two (2) vehicles shall be excluded for two (2) parent households.

(2) All other vehicles shall individually be evaluated at Fair Market Value (FMV) and that portion

of the value which exceeds the current Food Stamp Program vehicle disregard shall be attributed in

full toward the household’s resource limit, regardless of any encumbrances on the vehicles.

(3) Vehicles for individuals with disabilities which are customized with a lift to accommodate

those individuals with wheelchairs for the purpose of transporting those individuals shall be exempted

on a case-by-case basis.

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(4) Verifications. Client’s statement regarding the number of vehicles owned, ownership status

and availability is acceptable. To obtain a vehicle’s market value, the possible sources of verification

include, but are not limited to:

(A) Kelly Blue Book (Wholesale Value);

(B) Copy of Bill of Sale;

(C) Estimate from Auto Dealer; or

(D) Cars not in the Kelly Blue Book, ES assessments.

(g) Real Property.

(1) Real property is excluded in determining the resources of the household when it is their

primary home, including the surrounding land which is not separated from the home by intervening

property owned by others.

(2) Public rights of way, such as roads which run through the surrounding property and separate

it from the home will not affect the property exemption.

(3) Households that currently do not own a home, but own or are buying a land on which they

intend to build or are building a permanent home, shall receive an exclusion for the value of the land

and, if it is partially completed for the home.

(4) Verifications:

(A) Signed and Dated statement from a licensed real estate broker;

(B) Tax Listings;

(C) Copy of the Mortgage Papers; and

(D) Copy of the Deed of Gift.

(h) The agency shall exclude from “resources” consideration the necessary non-liquid income

producing property but not real property as defined under the following criteria: Stocks, inventory, tools,

equipment and other non-liquid income-producing property which are usual customary for a given trade,

profession or business.