OAR 461-140-0250
Determining The Uncompensated Value of a Transferred Asset
(1)
The uncompensated value of a disqualifying transfer of an asset is used in OAR 461-140-0260 (Disqualification Due to a Resource Transfer; SNAP) to 461-140-0300 (Adjustments to the Disqualification for Asset Transfer) to calculate the ineligibility period of the financial group (see OAR 461-110-0530 (Financial Group)).(2)
To determine uncompensated value:(a)
In the OSIP and OSIPM programs:(A)
The value of the compensation received for the asset is subtracted from the fair market value (see OAR 461-001-0000 (Definitions for Chapter 461)) of the asset.(B)
For an annuity, unless the individual verifies a lesser amount, the fair market value is equal to the amount of money used to establish the annuity, plus any additional payments used to fund the annuity, plus any earnings, minus any regular monthly payments already received, minus early withdrawals, and minus any surrender fees.(b)
In all other programs, the value of the compensation received for the resource is subtracted from the fair market value of the resource. The remainder is added to the other countable resources at the time of the transfer. The amount by which the sum exceeds the resource limit is the uncompensated value.(c)
The compensation received for a transferred asset includes;(A)
Encumbrances assumed by the buyer; and(B)
Goods or services provided to the individual, limited to their true value, if there was a prior agreement to exchange the asset for the goods or services.
Source:
Rule 461-140-0250 — Determining The Uncompensated Value of a Transferred Asset, https://secure.sos.state.or.us/oard/view.action?ruleNumber=461-140-0250
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