To be eligible for SSI a person must have $2,000 or less in countable resources. If the person alleges a transfer of resources, we must determine whether the resource transfer was valid. If the transfer was not valid, we may still count the resource toward the $2,000 limit. If the transfer was valid, the resource would no longer count toward the $2,000 limit.
Transfers of resources may occur through any of the following types of transactions:
- Sale of property;
- Trade or exchange, one property for another;
- Giving away cash, property or bank accounts, etc.
Since 12/14/99, giving away a resource or transferring it for less than it is worth can make a person ineligible for SSI for up to 36 months. The number of months of ineligibility depends on the value of the resource that was transferred or given away and the compensation, if any, that the individual received for that resource. For more information, please read our material on "transfers of resources" in the SSI Spotlight on this subject or in the booklet "Understanding SSI."
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