Topic: property
How to consider contracts for Deeds as Income / Resources
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 – 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): […]
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 […]
Home Property Explanation
Home Property Equity In determining eligibility for long-term care services applications filed on or after January 1, 2006, home property (which includes all property adjacent to the home ) is excluded from resources unless the individual’s equity interest in his or her home exceeds the Maximum Home Equity Standard. The home equity standard is located […]
Nursing Facility Client / Home Property Liens
Commensurate return is actual money payment or documentation of money spent on the client’s behalf; i.e., property taxes, medical debts, nursing care expenses, etc., corresponding to the market value of the transferred property. It does not include personal services, labor, or provision of rent-free shelter. It also does not include a monetary value assigned and […]