PM 07-02-04-b.

Income Producing Property

For income-producing non-homestead property, complete Recommendation Regarding Retention of Income Producing Non-homestead Property (Form 126). Send Form 126 to:

revised textDepartment of Human Services
Bureau of Research and Analysis
100 South Grand Avenue East
Springfield, Il 62762

Client with Fractional Interest in Property

When a client owns a fractional interest in property, and it appears they would suffer a serious loss from the sale of their interest, send the following information to the Bureau of Research and Analysis in Springfield:

  • how the title is held;
  • name of title holder;
  • current appraised market value;
  • gross income from the property, if any;
  • property expenses;
  • age of the owner, if their equity is limited to life interest; and
  • status of other owners of fractional interests, and other social factors affecting ownership.

Extending Time Limit on Sale of Property

When the Family Community Resource Center believes that a client should get an extension of the 6-month period to sell non-homestead property, request approval in writing from the Bureau of Research and Analysis in Springfield. The written request must include the following information:

  • Is the asking price more than the appraised value? If so, why?
  • Is the property marketed through a qualified realtor who is acting in good faith?
  • Is there a substantial market for this type of property in the community?
  • Family Community Resource Center's recommendation.