402.27.11 Contents of a Safety Deposit Box (Eff.10/01/05) An applicant/beneficiary or his/her spouse may have a safe deposit box. Some of the contents may be countable as resources. Treatment Verification Treatment is dependent upon the type of resources, if any, that are contained in the safety deposit box (such as a stock certificate; coins; jewelry; life insurance policies). to appropriate MPPM sections for specific resources.) Obtain a signed, written statement from the applicant/beneficiary, the spouse, or the authorized representative listing the contents of the safety deposit box. For any resource contained in the box, obtain appropriate verification of the value (such as financial statements, knowledgeable source statements) 402.27.12 Non-Home Real Property (Eff.10/01/05) This is land and any permanent buildings/immovable objects attached to it that are not considered a principal of residence. Treatment Verification Generally, a countable resource if it can be sold at its CMV. Resource value is the CMV minus any legal debt. If jointly owned, count the individual’s share. Exclusion can be developed if there is a bona fide effort to sell. (Refer to MPPM .) Ownership and/or value may be verified by: Tax assessment notice or bill Current mortgage statement Deed Report of title search Wills, court records, or other documentation of inheritance Appraisal Bona-Fide effort to sell can be verified by: Copy of realtor listing (must set up a tickler file to update when listing expires) Copy of newspaper advertisement Rebuttal of Fair Market Knowledgeable source statements Example of when a rebuttal may be done: Condemned property
Resource Limit on Value of Exclusion on Length of Time of Exclusion Further Reference MPPM & POMS Restricted, allotted Indian land if the Indian/owner cannot dispose of the land without permission of other individuals, his tribe or an agency of the Federal Government No No Stock held by native Alaskans in regional or village corporation effective 01/01/92 when the stock becomes a resource No No Radiation exposure compensation fund payments No No German Reparation payments made to War II Holocaust survivors No No Austrian social insurance payments No No Japanese-American and restitution payments No No Certain items excluded from both income and resources by other Federal statutes Varies No Agent Orange settlement payments to qualifying veterans and survivors No No Victims compensation payments No Yes State or local relocation assistance payments No Yes
Appendix F Life Estate and Remainder Interest Tables (Eff.10/01/05) (UNISEX LIFE ESTATE OR REMAINDER To calculate the value of a Life Estate or Remainder Interest, find the person’s age, and multiply the Current Market Value by the decimal in the appropriate column. AGE LIFE ESTATE REMAINDER 0 1 2 3 4 .97188 .99008 .98981 .02812 .01012 .01019 5 6 7 8 9 .98884 .98822 .98748 .98663 .01178 .01337 10 11 12 13 14 .98565 .98453 .98329 .98198 .98066 .01435 .01547 .01671 .01802 .01934 15 16 17 18 19 .97815 .97700 .97480 .02063 .02185 .02300 .02410 20 21 22 23 24 .97365 .97245 .97120 .96986 .96841 .02755 .02880 .03014 25 26 27 28 29 .96678 .96495 .96290 .96062 .95813 .03322 .03505 .03938 .04187
30 33 32 33 34 .95543 .95254 .94942 .94608 .94250 .04457 .05058 .05392 .05750 35 36 37 38 39 .92567 .92083 .06132 .06540 .06974 .07433 40 41 42 43 44 .91030 .89855 .08429 .08970 .10145 .10779 45 46 47 48 49 .88558 .87863 .87137 .86374 .85578 .11442 .12137 .12863 .13626 .14422 50 51 52 53 54 .84743 .83674 .82969 .82028 .81054 .15257 .16126 .17031 .17972 .18946 55 56 57 58 59 .80046 .76822 .75675 .20994 .23178 .24325 60 61 62 63 64 .74491 .73267 .72002 .70696 .69352 .25509 .26733 .30648 65 66 67 68 69 .67970 .66551 .65098 .63610 .62086 .32030 .33449 .34902 .36390 .37914
70 71 72 73 74 .60522 .58914 .57261 .53862 .39478 .41086 .42739 75 76 77 78 79 .52149 .48742 .47049 .45357 .47851 .51258 .54643 80 81 82 83 84 .43659 .41967 .40295 .38642 .56341 .59705 .61358 .63002 85 86 87 88 89 .35359 .33764 .30859 .64641 .66236 .67738 .70474 90 91 92 93 94 .28221 .26955 .25771 .24692 .73045 .76272 95 96 97 98 99 .22181 .21550 .21000 .20486 .77113 .78450 .79000 .79514 100 101 102 103 104 .19975 .19532 .19054 .18437 .17856 .80025 .80468 .80946 .81563 .82144