Factors That Make Property a Resource

Factors That Make Property a Resource. A. Property of any kind, including cash, is a resource only if it meets all three criteria listed below by resource criteria and description: 1. Ownership Interest. a) An individual must have some form of ownership in property in order for the property to be considered a resource. The fact that an individual has access to property, or has a legal right to use it, does not make it a resource if there is no ownership interest. 2. Legal Right to Access (spend or convert) Property. a) An individual must have a legal right to access property. Even with ownership interest, property cannot be a resource if the owner lacks the legal ability to access funds to spend or convert non-cash property into cash. The fact that an owner does not have physical possession of property does not mean it is not his resource. It is a resource if the owner still has the legal ability to spend it or convert it into cash. An individual has free access to, and unrestricted use of, property even when he can take actions only through an agent (such as a representative payee or conservator). 3. Legal Ability to Use for Personal Support and Maintenance. a) Even with ownership interest and legal ability to access property, a legal restriction against the property’s use for the owner’s own support and maintenance means the property is not a resource.