Factors Making Property A Resource

Property of any kind, including cash, can be a resource and must meet all criteria listed below: (7-1-24) 01. Ownership Interest. A participant must have ownership interest in property for it to be counted as a resource. Property is not a resource if the participant does not own all or part of the property. (7-1-24) 02. Legal Right to Spend or Convert Property. A participant must have a legal right to spend or convert property to cash. Physical possession of property is not needed if the owner has the legal ability to spend or convert the property to cash. (7-1-24) 03. Legal Ability to Use for Support and Maintenance. Property is not a resource if it cannot legally be used for the owner’s support and maintenance. (7-1-24) 312. -- 313. (RESERVED)