.05 Real Property - For Sale
 
(10/01/11 - 12/31/11)
Real property that the participant is making a good faith effort to sell is NOT countable.
 
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)
 
Establish that the participant is making a good faith effort to sell the property by verifying both of the following:
 
The property is for sale
The participant has not declined a reasonable offer
 
This can be done through any of the following:
 
A classified ad in the newspaper
A real estate broker
Other reasonable proof
 
Key the following information on OTAS:
 
The RS Other Assets Code in the TY field.
The equity value of the real property for sale in the equity field.