WAG 07-04-03

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.

revised textNOTE: Assets of a categorically eligible SNAP unit are exempt (see PM 05-07-00).