Income – Rental Income

Explanation of Rental Income

Appendix F

Link to Appendix F for Legal Property Descriptions

Searching Property Records: Wagoner County

Searching Property Records for Wagoner County

UpdatedResource- Income Producing Property & 6% / $6000 Rule

How to determine countable resource value of income producing property

Home Property Exemption and Adjacent Properties

317:35-5-41.1 (b) The home exemption goes to the primary residence. That extension also covers adjacent properties. “Adjacent” is defined as the property lines touch even if there is an easement, road, creek or anything similar that separates the properties. Examples of adjacent properties shown here. The adjacent properties in addition to the home property; are […]

Resource – Contracts for Deed

How to consider contracts for Deeds as Income / Resources

Property

Home property – a home is defined as any shelter in which the individual has an ownership interest and which is used by the individual as his/her principal place of residence.  The home may be either real or personal property, fixed or mobile.  Home property includes all property which is adjacent to the home. Policy regarding […]

Commensurate Return

Commensurate return – a term used in the SoonerCare (Medicaid) program regarding transfer of resources.  When a person requires long term care assistance and transferred resources to someone else within a specified time period, OHCA expects the person to receive fair market value for the resource.  Policy regarding this term is located at: SoonerCare (Medicaid): […]

Home Property with Equity < the Maximum Home Equity Standard

317:35-5-41.8 (a)(3)(F) Equity < the Maximum Home Equity Standard If individual intends to return home property it may be excluded as a countable resource up to 12 months from date of entry into ICF. The home property continues to be an exempt resource if one of the following lawfully resides in the home. Spouse Own […]