Real property is land and generally whatever is built on it (such as buildings) or growing on it. Legal and equitable interest in real property includes interest in coal, oil, gas, and other mineral rights. Real property includes both homestead and
Mobile homes are real property when classified as such for tax purposes.
Proceeds received from the sale of real property are an asset.
Verify and record in the case record the extent of a client's interest in real property.
Homestead property is exempt, and is the dwelling owned and occupied by the client. It includes any surrounding property that is not separated from the home by someone else's property.
Non-homestead property is nonexempt, and is all real property that is not the client's homestead.
Use the equity value of a client's non-homestead real property when figuring initial and ongoing eligibility. When the equity value of non-homestead property and all other nonexempt assets exceeds the asset limit, deny or cancel benefits.