PM 07-04-03: Inaccessible Assets

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 manual textNote: The assets of a categorically eligible SNAP household (PM 05-07-00) are exempt, unless the household receives substantial lottery and gambling winnings as a cash prize of $3,500 or more. See PM 07-04-21.