Iowa Admin. Code r. 441-89.1 - Definitions

Current through Register Vol. 44, No. 20, April 6, 2022

"Department" shall mean the department of human services.

"Dwelling " shall mean real property in which a person has an ownership interest and which serves as the person's principal place of residence. Real property shall include the shelter in which the person lives, the land on which the shelter is located and related buildings on the land.

"Fair market value " shall mean the price for which property or an item could have been sold on the open market at the time of transfer

"Medical assistance" shall mean "medical assistance," "additional medical assistance," "discretionary medical assistance" or "Medicare cost sharing" as each is defined in Iowa Code section 249A. 2 which is provided to a person pursuant to Iowa Code chapter 249A and Title XIX of the federal Social Security Act.

"Property" shall mean anything of value, including both tangible and intangible property, real property and personal property.

"Transfer " shall mean the disposal of property for less than fair market value through gifting, sale or any transfer or assignment of a legal or equitable interest in property.

"Transferee " shall mean the person who receives a transfer or assignment of a legal or equitable interest in property for less than fair market value.

"Transferor " shall mean the person who makes a transfer of a legal or equitable interest in property for less than fair market value.

Notes

Iowa Admin. Code r. 441-89.1

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