PM 07-04-07: Assets with Low Equity Value

WAG 07-04-07

An asset is exempt when its equity value minus the anticipated expenses of selling or disposing of it would result in the household receiving less than $1,500. This policy does not apply to stocks, bonds, or negotiable financial instruments.

Note: The assets of a categorically eligible SNAP household (PM 05-07-00) are exempt, unless the household receives substantial lottery or gambling winnings as a cash prize of $4,500 or more (see PM 07-04-21).