We determine an individual’s countable resources as of the first moment of the month that they file an application for the subsidy, or the month we redetermine eligibility. Base a resource determination on what resources the individual (or the individual and living-with spouse) have as of the first moment of the month.

Evaluate resources, other than cash, according to an individual’s equity in the resources. For purposes of determining eligibility for the subsidy, the equity value of an item is the price that the item can sell for on the open market in the geographic area involved, minus any encumbrances. If the individual and the living with spouse have joint ownership of the resource, determine the individual’s equity value by following the SSI rules for determining ownership. For information on sole vs. shared ownership, see SI 01110.510, and for information on determining equity value, see SI 01140.042.

Evaluate cash an individual receives during a month using the rules for counting income during the month of receipt. If the individual retains the cash until the first moment of the following month, count the cash as a resource, unless it is excludable.