This page is dated March 2001. Equity is defined as the value of an asset over and above the indebtedness against it.
Assets are only assets if they can be converted to cash.
If they do not they may be determined ineligible for assistance. This rule applies to disposal of assets within one year prior to application or while the applicant is on assistance. The period of ineligibility begins on the date the person is declared ineligible. This rule applies to disposal of assets within one year prior to application or while the applicant is on assistance. The period of ineligibility does not apply to money that was converted to an exempt asset.