Assets with cash value that are not accessible to the SNAP unit are exempt. These include but are not limited to:
- irrevocable trust funds;
- security deposits on rental property and utilities;
- property in probate;
- jointly owned assets (see PM 07-04-02);
- real property when a good faith effort is being made to sell at a reasonable price;
- real property being purchased on contract for deed until the sale price is complete and the SNAP unit has ownership of the property;
- assets of a resident(s) of a shelter for battered women and children if:
- the asset is owned jointly with a member(s) of their former SNAP unit, and
- the asset is accessible only with the agreement of the joint owner who still lives in the former home;
- nonliquid assets, such as land, crops, buildings, timber, farm equipment, or machinery if:
- the nonliquid asset has a lien against it due to a business loan and
- the unit is prohibited by the lien agreement from selling the asset.
Do not count the equity or cash value of these nonliquid assets toward the asset limit.
NOTE: Assets of a categorically eligible SNAP unit are exempt (see PM 05-07-00).