Effective Date - January 1, 2009

803                 Transfer of an Asset

Child Care - No requirement

SNAP – 7 CFR 273.8

POWER - W.S. 42-2-109, W.S. 42-2-202

                        Determine if a transfer of a nonexempt asset for less than FMV occurred in the look-back period prior to application or during receipt of benefits.

A.    Realize the transfer provisions do not apply to Child Care.

B.    Exempt the following transfers:

1.    Settlement of a legally enforceable debt;

2.    Clearing title to property in which the client had no beneficial or enforceable interest;

3.    Equity in property, which was owned jointly; and through a court action, the other owner was granted the equity in the property;

4.    An asset sold, traded or transferred at FMV;

5.    Transfer of an asset between members of the same assistance unit (the asset would be considered toward the appropriate asset limit);

6.    An exempt asset (based on the status of the assets at the time of transfer);

7.    Assets transferred to an approved special needs, pooled or income trust;