FAA4.D Other Assets (OTAS) : 03 Other Asset Types : K Real Property : .04 Real Property - Not for Sale
.04 Real Property - Not for Sale
 
(10/01/11 - 12/31/11)
The equity value (g) of real property is countable when ALL of the following apply:
 
The participant is NOT making a good faith effort to sell at a reasonable price
The property is not a homestead
The property is not income producing
For jointly owned property, the property is available to the participant
 
CA EXCEPTION
Real property that the participant is making a good faith effort to sell is NOT countable for a period of six months provided there is an agreement to repay benefits. (See Real Property – CA Six Month Exclusion)
 
Key the following information on OTAS:
 
The RP Other Assets Code in the TY field.
The equity value of the real property not for sale in the EQUITY field.