7 CFR § 273.8(c)(2)

Count the equity value of all assets unless excluded.  The fair market value is the amount of money the asset can be sold for on the open market.  Equity value is the fair market value minus:

  • the amount owed on the asset, and 
  • the cost to sell or transfer the asset.  

Liquid Assets

7 CFR § 273.8(c)(1)

Liquid assets are assets the EDG can easily convert to cash, such as but not limited to:

  • Bonds
  • Cash on hand
  • Checking accounts
  • Lump sum payments
  • Savings accounts
  • Savings certificates
  • Stocks

Non-liquid Assets

7 CFR § 273.8(c)(2)

Non-liquid assets are assets the EDG cannot easily convert to cash, such as:

  • Buildings
  • Land
  • Other property not listed under Excluded Assets
  • Personal property
  • Recreational property

Jointly-Owned Assets

7 CFR § 273.8(d)

Assets owned by 2 or more households, or assets showing more than one name are entirely available to each EDG, with certain exceptions. 

Excluded jointly-owned assets

7 CFR § 273.8(d)(1)-(2)

Exclude a jointly-owned asset that meets one of the following:

  • The EDG verifies all or part of the asset is inaccessible.
  • The asset cannot be subdivided, and the EDG cannot access or sell the asset unless the joint owner approves.
  • The asset is jointly owned by:
    • individuals living in a shelter for battered individuals and someone living in the abuser’s EDG, and
    • the asset is controlled by the individual living in the abuser’s EDG.

Partial or No Ownership

7 CFR § 273.8(d)

EDGs may claim less than full ownership or even no ownership of jointly-owned assets, such as a bank account. Verify the EDG’s claim. Based on the verification obtained, determine if the asset is:

  • counted,
  • partially excluded, or
  • fully excluded. 

For an examples see Jointly Owned Assets.

Comingled Funds

7 CFR § 273.8(e)(9) and (12)(i) & (g)

Excluded assets commingled with countable assets remain excluded for 6 months from the date the assets are commingled.