Or. Admin. Code § 461-140-0220 - Determining if a Transfer of an Asset is Disqualifying

A transfer of an asset is not disqualifying if the requirements of OAR 461-140-0242 or one of the following sections are met:

(1) The asset was excluded as personal belongings as described in OAR 461-145-0390.

(2) The asset was sold or traded for compensation equal to or greater than fair market value.

(3) Except in the OSIPM program, the asset was transferred between members of the same financial group, including members who are ineligible noncitizens or disqualified people.

(4) The transfer settled a legally enforceable claim against the asset or individual.

(5) The amount of the resource was equal to or less than the amount that was excluded at the initial month (see OAR 461-001-0000) of eligibility under OAR 461-160-0855 due to payments received under a qualified partnership policy (see OAR 461-001-0000).

(6) In all programs except the OSIP and OSIPM programs, a court ordered the transfer.

(7) In the OSIP and OSIPM programs, a court ordered the transfer and:

(a) The transfer occurs more than 36 months or 60 months before the date of request (see OAR 461-115-0030), whichever is applicable under OAR 461-140-0210(5); or

(b) There is an institutionalized spouse, and, after performing the calculations required in OAR 461-160-0580(2), the amount of resources allocated to a community spouse does not exceed the largest of the four amounts set forth in OAR 461-160-0580(2)(f).

(8) The individual was a victim of fraud, misrepresentation, or coercion, and legal steps have been taken to recover the asset.

(9) In the OSIP and OSIPM programs, for an individual in a nonstandard living arrangement (see OAR 461-001-0000), the asset is an annuity purchased on or before December 31, 2005, the individual or the spouse of the individual is the annuitant, and the entire amount of principal and earned interest is paid in equal installments during the actuarial life expectancy of the annuitant. For purposes of this section, the actuarial life expectancy is established by the Period Life Table of the Office of the Chief Actuary of the Social Security Administration.

(10) In the OSIP and OSIPM programs, the individual is in a standard living arrangement (see OAR 461-001-0000).

(11) In the OSIP and OSIPM programs, for an individual in a nonstandard living arrangement (see OAR 461-001-0000):

(a) The asset is an annuity purchased from January 1, 2006 through June 30, 2006, the individual or the spouse of the individual is the annuitant, and the annuity meets the requirements of OAR 461-145-0022(8).

(b) The asset is an annuity purchased on or after July 1, 2006, and the annuity meets the requirements of OAR 461-145-0022(10).

Notes

Or. Admin. Code § 461-140-0220

AFS 80-1989, f. 12-21-89, cert. ef. 2-1-90; AFS 13-1991, f. & cert. ef. 7-1-91; AFS 10-1995, f. 3-30-95, cert. ef. 4-1-95; AFS 13-1995, f. 6-29-95, cert. ef. 7-1-95; AFS 10-2000, f. 3-31-00, cert. ef. 4-1-00; AFS 6-2001, f. 3-30-01, cert. ef. 4-1-01; AFS 6-2001, f. 3-30-01, cert. ef. 4-1-01; AFS 2-2002(Temp), f. & cert. ef. 2-26-02 thru 6-30-02; AFS 10-2002, f. & cert. ef. 7-1-02; SSP 19-2005, f. 12-30-05, cert. ef. 1-1-06; SSP 10-2006, f. 6-30-06, cert. ef. 7-1-06; SSP 15-2006, f. 12-29-06, cert. ef. 1-1-07; SSP 14-2007, f. 12-31-07, cert. ef. 1-1-08; SSP 17-2008, f. & cert. ef. 7-1-08; SSP 22-2017, f. 9-8-17 & cert. ef. 10/1/2017; SSP 33-2017, amend filed 12/8/2017, effective 1/1/2018; SSP 8-2019, amend filed 03/13/2019, effective 04/01/2019; SSP 12-2019, minor correction filed 04/01/2019, effective 4/1/2019; SSP 21-2020, amend filed 07/08/2020, effective 7/8/2020; SSP 11-2022, minor correction filed 02/16/2022, effective 2/16/2022

Statutory/Other Authority: ORS 411.070, 411.404, 411.816, 412.049, 413.085, 414.042, 414.685, ORS 409.050, 410.070 & 411.060

Statutes/Other Implemented: ORS 409.010, 410.070, 411.060, 411.070, 411.404, 411.708, 411.816, 412.049 & 414.02