OAR 461-145-0460
Sale of a Resource

(1)

In the ERDC program, all proceeds from the sale of a resource are excluded as income and as a resource.

(2)

In the QMB-BAS, QMB-SMB, and QMB-SMF programs, for the sale of a resource (including a home):

(a)

The interest portion of proceeds is counted as unearned income.

(b)

The principal portion of proceeds is excluded as income.

(3)

In the OSIPM, and QMB-DW programs:

(a)

The principal portion of proceeds from the sale of a resource (other than a home) received on a monthly or other periodic basis is counted as a resource.

(b)

The principal portion of proceeds from the sale of a resource (other than a home) received on a lump-sum basis are treated as follows:

(A)

If the proceeds are from the sale of an excluded resource, the amount reinvested in another excluded resource is excluded, and the remainder is counted as a resource.

(B)

Proceeds from all other sales are counted as a resource.

(c)

The interest portion of proceeds from the sale of a resource (other than a home) received on a monthly, other periodic, or lump-sum basis is counted as unearned income.

(d)

Proceeds from the sale of a home of the financial group (see OAR 461-110-0530 (Financial Group)) are treated as follows:

(A)

Principal payments, including lump-sum payments, are excluded for three full calendar months from the date of receipt if the financial group intends to use the proceeds to buy another home or for associated costs including:
(i)
Down payments.
(ii)
Settlement costs.
(iii)
Loan processing fees and points.
(iv)
Moving expenses.
(v)
Necessary repairs to or replacement of the new home’s structure or fixtures (including roof, furnace, plumbing, built-in appliances) that are identified and documented prior to occupancy.
(vi)
Mortgage payments.

(B)

For the purposes of paragraph (A) of this subsection, funds obligated by contract during these three full calendar months are also excluded.

(C)

Interest payments are counted as unearned income.

(e)

For individuals eligible for OSIPM under OAR 461-135-0771 (Eligibility for OSIPM Under “Grandfathering” Provision), the proceeds from the sale of the home of the financial group, if the financial group intends to use them to buy another home (paragraphs (d)(A) and (d)(B) of this section set out the scope of use of excluded proceeds), are treated as follows:

(A)

Principal payments, including lump-sum payments, are excluded for 12 full calendar months from the date of receipt.

(B)

Interest payments are counted as unearned income.

(f)

Proceeds from the sale of a home that are not reinvested in another home are treated as follows:

(A)

Principal payments are counted as a resource.

(B)

Interest payments are treated as unearned income.

(4)

In the REF, REFM, and TANF programs:

(a)

Proceeds from the sale of an excluded resource to the extent reinvested in another excluded resource are excluded as income and as a resource.

(b)

All proceeds from the sale of the resource are counted as unearned income, unless excluded in subsection (a) of this section.

(5)

In the SNAP program, proceeds from the sale of a resource are treated as follows:

(a)

Proceeds from the sale of a resource (other than a home):

(A)

Received on a monthly or other periodic basis are counted as unearned income.

(B)

Received on a lump-sum basis:
(i)
From the sale of an excluded resource, the amount reinvested in another excluded resource is excluded, and the remainder is counted as a resource.
(ii)
From all other sales are counted as a resource.
(iii)
If the proceeds put the benefit group (see OAR 461-110-0750 (Benefit Group)) over the resource limit, the proceeds are counted as periodic or lump sum income (see OAR 461-140-0110 (Treatment of Periodic Income) and 461-140-0120 (Availability and Treatment of Lump-Sum Income)).

(b)

Proceeds from the sale of the home of the financial group (see OAR 461-110-0530 (Financial Group)):

(A)

If the financial group intends to use the proceeds to buy another home, are excluded for three months and counted as a resource thereafter.

(B)

If not reinvested in another home, are treated as a resource.

(C)

Interest received monthly or on another periodic basis from the sale of a home is counted as unearned income.

(c)

Proceeds from the sale of a work-related asset including equipment and inventory, if the client is self-employed, the proceeds of the sale are treated as self-employment income (see OAR 461-145-0910 (Self-Employment; General; Not OSIP, OSIPM, or QMB)).

(6)

Costs of the type excluded under OAR 461-145-0920 (Self-Employment; Costs that are Excluded to Determine Countable Income) are subtracted from proceeds counted as income under this rule.

Source: Rule 461-145-0460 — Sale of a Resource, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=461-145-0460.

461‑145‑0000
Achieving a Better Life Experience (ABLE) Act 461‑145‑0001
Adoption Assistance 461‑145‑0005
Agent Orange Disability Benefits 461‑145‑0008
Alaska Permanent Fund Dividend 461‑145‑0010
Animals 461‑145‑0020
Annuities 461‑145‑0022
Annuities 461‑145‑0025
Approved Accounts 461‑145‑0030
Bank Account 461‑145‑0035
Black Lung Benefits 461‑145‑0040
Burial Arrangements and Burial Fund 461‑145‑0050
Burial Space and Merchandise 461‑145‑0060
Cash 461‑145‑0080
Child Support and Cash Medical Support 461‑145‑0086
Contributions 461‑145‑0087
Coronavirus Aid, Relief, and Economic Security (CARES) Act 461‑145‑0088
Corporations and Business Entities 461‑145‑0089
Corporations and Other Business Entities 461‑145‑0090
Disability Benefit 461‑145‑0100
Disaster Relief 461‑145‑0105
Disqualifying Income 461‑145‑0108
Dividends, Interest and Royalties 461‑145‑0110
Domestic Volunteer Services Act (VISTA, RSVP) and Small Business Act (SCORE, ACE) 461‑145‑0120
Earned Income 461‑145‑0130
Earned Income 461‑145‑0140
Earned Income Tax Credit (EITC) 461‑145‑0143
Economic Recovery Payment 461‑145‑0145
Educational Account 461‑145‑0150
Educational Income 461‑145‑0170
Energy Assistance Payments 461‑145‑0175
Family Abuse Prevention Act (FAPA) Payments 461‑145‑0184
Filipino Veterans Equity Compensation Fund 461‑145‑0185
Floating Homes and Houseboats 461‑145‑0190
Food Programs Other Than the SNAP program 461‑145‑0200
Foster Care Payments and Guardianship Assistance Benefits 461‑145‑0210
Gifts and Winnings 461‑145‑0220
Home 461‑145‑0230
Housing and Urban Development 461‑145‑0240
Income-Producing Sales Contract 461‑145‑0250
Income-Producing Property 461‑145‑0252
Income-Producing Property 461‑145‑0255
Youth Transitions Program Subsidies 461‑145‑0259
Indian (Native American) Benefits 461‑145‑0260
Indian (Native American) Benefits 461‑145‑0261
Individual Development Account (IDA) 461‑145‑0270
Inheritance 461‑145‑0280
In-Kind Income 461‑145‑0285
Japanese-American Restitution Payments 461‑145‑0290
Job Corps 461‑145‑0300
Workforce Investment Act 461‑145‑0310
Life Estate 461‑145‑0320
Life Insurance 461‑145‑0330
Loans and Interest on Loans 461‑145‑0340
Lodger Income 461‑145‑0343
Manufactured and Mobile Homes 461‑145‑0345
Military Income 461‑145‑0348
Mineral Rights 461‑145‑0360
Motor Vehicle 461‑145‑0365
National and Community Services Trust Act (NCSTA), including AmeriCorps (other than AmeriCorps VISTA) 461‑145‑0370
Older Americans Act 461‑145‑0380
Pension and Retirement Plans 461‑145‑0390
Personal Belongings 461‑145‑0400
Personal Injury Settlement 461‑145‑0405
Plan for Self-support 461‑145‑0410
Program Benefits 461‑145‑0415
Radiation Exposure Compensation Act 461‑145‑0417
Railroad Retirement Payments 461‑145‑0420
Real Property 461‑145‑0430
Real Property Excluded under an Interim Assistance Agreement 461‑145‑0433
Recreational Vehicles 461‑145‑0435
Refunds 461‑145‑0440
Reimbursement 461‑145‑0455
Resettlement and Placement (R&P) Grants 461‑145‑0460
Sale of a Resource 461‑145‑0470
Shelter-in-Kind Income 461‑145‑0490
Social Security Benefits 461‑145‑0500
Social Secuirty Death Benefit 461‑145‑0505
Spousal Support 461‑145‑0510
SSI 461‑145‑0520
Stocks, Bonds and Other Securities 461‑145‑0525
Strikers’ Benefits 461‑145‑0530
Tax Refund 461‑145‑0540
Trusts 461‑145‑0550
Unemployment Compensation Benefit 461‑145‑0560
Uniform Relocation Act 461‑145‑0570
USDA Meal Reimbursement 461‑145‑0580
Veterans’ Benefits 461‑145‑0582
Victims’ Assistance 461‑145‑0583
Virtual Currency or Cryptocurrency 461‑145‑0585
Vocational Rehabilitation Payment 461‑145‑0590
Workers Compensation 461‑145‑0600
Work-Related Capital Assets, Equipment, and Inventory 461‑145‑0810
Deemed Assets 461‑145‑0820
Deemed Assets 461‑145‑0830
When to Deem the Assets of a Sponsor of a Noncitizen and How Income is Deemed 461‑145‑0860
Deemed Assets, Parent of Minor Parent 461‑145‑0910
Self-Employment 461‑145‑0915
Self-Employment 461‑145‑0920
Self-Employment 461‑145‑0930
Self-Employment 461‑145‑0931
Additional Exclusions for Farming Costs
Last Updated

Jun. 8, 2021

Rule 461-145-0460’s source at or​.us