OAR 461-135-0845
Valuation of Life Estate, Reversionary Interest, and Property


(1)

In this rule, “spouse” or “spouses”:

(a)

For federally-funded programs, has the meaning defined in OAR 461-001-0000 (Definitions for Chapter 461),

(b)

For programs not federally-funded, has the meaning defined in OAR 461-001-0000 (Definitions for Chapter 461) but also includes a registered domestic partner (see OAR 461-135-0832 (Estate Administration; Definitions)).

(2)

Effective July 18, 1995, the value (see OAR 461-135-0832 (Estate Administration; Definitions)) of a life estate (see OAR 461-135-0832 (Estate Administration; Definitions)) or other interest (see OAR 461-135-0832 (Estate Administration; Definitions)) in real property (see OAR 461-135-0832 (Estate Administration; Definitions)), personal property (see OAR 461-135-0832 (Estate Administration; Definitions)),or other assets (see OAR 461-135-0832 (Estate Administration; Definitions)) measured by or valued with respect to a life span, including that of the relevant recipient of assistance (see OAR 461-135-0832 (Estate Administration; Definitions)), is established by reference to the life estate valuation tables in this section and is valued as of the time of death (see OAR 461-135-0832 (Estate Administration; Definitions)) of the recipient of assistance irrespective of the actual life span of the measuring life. [Table not included. See ED. NOTE.]

(3)

Excluding accounts under section (4) of this rule or property under section (6) of this rule, for assistance recovery purposes, the interest of a person (see OAR 461-135-0832 (Estate Administration; Definitions)) in real property, personal property, or other assets held in joint tenancy (see OAR 461-135-0832 (Estate Administration; Definitions)) (including transfers with right of survivorship covered by ORS 93.180 (Forms of tenancy in conveyance or devise to two or more persons)), tenancy in common (see OAR 461-135-0832 (Estate Administration; Definitions)), or other form of concurrent ownership with one or more other persons with right of survivorship (see OAR 461-135-0832 (Estate Administration; Definitions)), other than a spouse, is presumed to be the fractional share held by the person. The fractional share of a person is presumed to be the share reflected in the ownership documents (see OAR 461-135-0832 (Estate Administration; Definitions)). Such presumption may be rebutted under the consideration furnished test (see OAR 461-135-0832 (Estate Administration; Definitions)) using convincing evidence (see OAR 461-135-0832 (Estate Administration; Definitions)) of the actual consideration contributed by another co-owner of the property or assets. In the absence of any stated fractional share on the ownership documents, each co-owner is presumed to have an equal fractional share of ownership of the whole, unless rebutted by the consideration furnished test using convincing evidence.
(4) For medical assistance (see OAR 461-135-0832 (Estate Administration; Definitions)) recovery purposes, the interest of a recipient in multi-party accounts with an insured institution or credit union is presumed to be one-hundred percent, and the account’s value shall be determined at time of death. The presumption may be rebutted by the consideration furnished test using convincing evidence.

(5)

With respect to real property, personal property, or assets held jointly by spouses, as tenants in common, tenants by the entirety, or other concurrent ownership, the interest of a person in such property or assets is conclusively deemed to be one-half; provided, however, that in the event the ownership documents expressly set forth a different fractional share of ownership, and such fractional share is lawful in the appropriate jurisdiction, then the interest of a person is presumed to be the fractional share set forth in such ownership documents. Such presumption may be rebutted using convincing evidence. The consideration furnished test does not apply to this section of the rule.

(6)

With respect to real property, personal property, or other assets conveyed by a transfer on death deed or other similar arrangement, including, but not limited to, payable on death accounts with financial institutions; the interest of the transferor is presumed to be one-hundred percent, except that if there is more than one transferor their respective interests are determined in accordance with sections (3), (4), and (5) of this rule.

(7)

The value of real property is determined by establishing the value of the property to the satisfaction of the department (see OAR 461-135-0832 (Estate Administration; Definitions)). The burden of proof for establishing the value of the real property to the satisfaction of the department lies with the person or, after the time of death of the person, with the person’s representative, and may be established by any methodology, including an appraisal performed by an appraiser certified or licensed in the applicable jurisdiction, that the department determines most accurately reflects the value of the real property. The sum of liens or other encumbrances, if any, attached to the real property established using convincing evidence, is subtracted from the value of the real property to determine a net value of the real property.

(8)

The value of personal property consisting of shares of stock or other securities traded on an exchange is evidenced by the average of the bid and ask prices. If such bid and ask prices are unavailable for certain stocks or securities, the value may be established by a written estimate from the corporation or other entity issuing such shares or securities of the value, or if such estimate is unobtainable, an estimate from a broker, trader or other person with knowledge in the field. The sum of liens or other encumbrances established using convincing evidence, is subtracted from the value of such stock or securities to determine a net value of the personal property consisting of stock or other securities.

(9)

Subject to section (8) of this rule, the value of tangible personal property, including, but not limited to, livestock, furniture, vehicles and other tangible items may be established:

(a)

By a written estimate from a person knowledgeable in the field of appraising such items of personal property; or

(b)

From published sources such as catalogs of antiques or collectibles, blue books or other convincing evidence that accurately establishes the value of the property.

(10)

The sum of liens or other encumbrances, if any, attached to such property in section (9), established using convincing evidence, is subtracted from the value of the tangible personal property to determine a net value of the tangible personal property.

(11)

The value of intangible personal property not otherwise provided for in this rule, is established by a written estimate from a person knowledgeable in the field of appraising such items of intangible personal property. The sum of liens or other encumbrances, if any, attached to such property, established using convincing evidence, is subtracted from the value of the intangible personal property to determine a net value of the intangible personal property.
(12) Notwithstanding anything to the contrary in this rule, any real property, personal property, or other assets in a probate estate is valued in accordance with the probate code of the jurisdiction of the probate proceeding.

(13)

Notwithstanding anything to the contrary in this rule, if a claim under OAR 461-135-0835 (Limits on Estate Claims) is deferred until a recipient’s spouse dies; the value of any real property, personal property or other assets, subject to the deferred claim, is established as follows:

(a)

For real property, personal property, or other assets in the probate estate of the deceased spouse; the value is the current value at the time of probate; or

(b)

For real property, personal property, or other assets not in the probate estate of the deceased spouse; the value is determined on the later of the date of the claim or the sale of the real property, personal property, or other assets.

(14)

The amount of a claim of the department that is recoverable from a person other than the recipient of assistance is calculated through the following steps:
(a) Step One: Determine the value of the real property, personal property, or other assets received by the person from the recipient of assistance.
(b) Step Two: Deduct from the value the amount of any liens or encumbrances.
(c) Step Three: Multiply the result by the fraction or percentage that constitutes the interest received from the recipient of assistance.
[ED. NOTE: To view attachments referenced in rule text, click here to view rule.]

Source: Rule 461-135-0845 — Valuation of Life Estate, Reversionary Interest, and Property, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=461-135-0845.

461–135–0010
Assumed Eligibility for Medical Programs
461–135–0070
Specific Requirements
461–135–0071
TANF Time Limit
461–135–0073
TANF Time Limit
461–135–0075
TANF Time Limit
461–135–0080
TANF Eligibility for Minor Parents
461–135–0085
Requirement to Attend an Assessment or Evaluation, or Seek Medically Appropriate Treatment for Substance Abuse and Mental Health
461–135–0087
Good Cause for Failure to Comply with Substance Abuse or Mental Health Requirements
461–135–0089
Demonstrating Compliance with Substance Abuse and Mental Health Requirements
461–135–0200
Multiple Disqualifications
461–135–0220
REF, REFM, and TANF Programs
461–135–0300
Eligibility for and Needs Covered by EA
461–135–0301
Closure of the Emergency Assistance (EA) Program Effective May 1, 2004
461–135–0310
Covered Shelter Needs
461–135–0320
Time Limits
461–135–0340
Work Requirements
461–135–0350
Eligible People
461–135–0400
Specific Requirements
461–135–0405
Children in the Head Start Program
461–135–0415
Requirement to Make Copay or Satisfactory Arrangements
461–135–0440
Child Care Benefit Eligibility and Payment
461–135–0475
Specific Requirements
461–135–0485
Requirement to Complete an Employability Screening and Overview of the Job Opportunity and Basic Skills (JOBS) Program
461–135–0491
Disaster Supplemental Nutrition Assistance Program (DSNAP)
461–135–0492
Application, Interviews, and Verification for DSNAP
461–135–0493
Eligibility and Benefit Amount for DSNAP
461–135–0494
DSNAP Treatment of Households Already Certified and Receiving SNAP Benefits
461–135–0495
Recertifications for DSNAP
461–135–0496
Hearings for DSNAP
461–135–0497
Household Liability in the DSNAP
461–135–0498
Pandemic-related Supplemental Nutrition Assistance Program
461–135–0505
Categorical Eligibility for SNAP
461–135–0506
Transitional Benefit Alternative (TBA) in the SNAP Program
461–135–0510
Residents of Institutions
461–135–0520
Time Limit and Special Requirements for ABAWD
461–135–0521
Job Quit by Applicants
461–135–0530
People in Adult Foster Care (AFC) and Boarding Houses
461–135–0560
Fleeing Felon and Violators of Parole, Probation, and Post-Prison Supervision
461–135–0570
Eligible and Ineligible Students
461–135–0575
SNAP Expedited Services
461–135–0580
Prepared Meals
461–135–0590
Communal Dining
461–135–0610
Meal Providers for Homeless Individuals
461–135–0660
SNAP
461–135–0700
Specific Requirements
461–135–0701
Terminate GA and GAM Programs October 1, 2005
461–135–0708
Criteria for Developing a Plan for Self-support
461–135–0725
Specific Requirements
461–135–0726
Specific Requirements
461–135–0730
Specific Requirements
461–135–0745
Eligibility for Individuals in Acute Care Settings
461–135–0750
Individuals Applying for or Receiving Long-Term Care or Home and Community-Based Care
461–135–0755
Individual Residing in a 24-Hour Mental Health Residential Care Setting
461–135–0771
Eligibility for OSIPM Under “Grandfathering” Provision
461–135–0780
Pickle Amendment Clients
461–135–0790
Eligibility for People in an Institution Since 1973
461–135–0800
Eligibility for 1972 COLA Clients
461–135–0820
Eligibility for Widows and Widowers
461–135–0830
Eligibility for Disabled Adult Children
461–135–0832
Estate Administration
461–135–0833
Burial Expenses
461–135–0834
Delivery of Required Notices to the Estate Administration Unit
461–135–0835
Limits on Estate Claims
461–135–0837
Administering Medicaid Estate Claims When the Recipient of Assistance was a Native American Indian or Alaskan Native Village Tribal Member
461–135–0838
Administering Estate Claims
461–135–0839
Title to Real and Personal Property
461–135–0841
Undue Hardship Waiver Criteria
461–135–0843
Establishing Legal Title, Interest or Form of Ownership
461–135–0844
Procedures for Applying for Undue Hardship Waiver
461–135–0845
Valuation of Life Estate, Reversionary Interest, and Property
461–135–0847
Forms
461–135–0850
Specific Requirements
461–135–0875
Specific Requirements
461–135–0880
OSIPM and QMB Programs
461–135–0900
Specific Requirements
461–135–0910
Unaccompanied Minor Program
461–135–0915
Specific Requirements
461–135–0920
Refugees Applying for SSI
461–135–0930
Medical Coverage for Refugees
461–135–0950
Eligibility for Inmates and Residents of Public Institutions
461–135–0990
Specific Requirements
461–135–1070
Specific Requirements
461–135–1175
Senior Farm Direct Nutrition Program
461–135–1185
Low-Income Subsidy Program (LIS)
461–135–1186
LIS Applications
461–135–1187
Eligibility Determinations and Due Process for LIS
461–135–1195
Specific Requirements
461–135–1197
Good Cause
461–135–1200
Specific Requirements
461–135–1230
Benefits
461–135–1235
TA-DVS
461–135–1240
TA-DVS Program
461–135–1250
Closure of Post-TANF Program
461–135–1260
Specific Requirements: Job Participation Incentive
461–135–1270
Specific Requirements
Last Updated

Jun. 8, 2021

Rule 461-135-0845’s source at or​.us