Personal property or assets is defined as household goods, jewelry, farm surpluses, livestock, farm or business machinery or equipment, automobiles and trucks, and similar items. Personal property may be considered an available resource or may be excluded from available resources. Personal Property is entered in FAMIS as Resource Class PP on the Select Financial Resource (SELFRES/FMWB) screen.
Consider the following items available resources:
- Boats, campers, trailers, and recreational vehicles not used as the applicant/participant’s homestead. Enter on the Personal Property screen FMW2 using one of the following codes in the Type field:
- BO BOAT\MOTOR
- CP CAMPER\TRAILER
- TL TRAILER (UTILITY\BOAT\ETC)
- MH MOTOR HOME
- Motorcycles, unless only one is owned and it is the applicant/participant’s only vehicle. Enter in FAMIS as Class VE VEHICLE and Type MC MOTORCYCLE.
- Furniture not directly used by the applicant/participant (in storage or in another person’s household). Enter in FAMIS as Class PP Personal Property, and Type HH HOUSEHOLD FURNISHINGS.
- Farm and business machinery or equipment if no longer used in the regular course of business or employment. Enter in FAMIS as Class PP Personal Property and Type FM FARM MACHINERY or BE BUSINESS EQUIPMENT OR TOOLS.
Exclude the following items from available resources:
- One automobile, truck, or motorcycle if it is the only vehicle owned. Enter in FAMIS as Class VE VEHICLE MHABD Excl Rsn FE ONE VEHICLE PER FAMILY EXEMPTION. If more than one such vehicle is owned, exercise personal judgment based on individual family needs to determine whether the additional vehicle(s) is an available resource.
- Household furnishings being used by the applicant/participant regardless of their value. Consider household furnishings left in the applicant/participant’s unoccupied home as an available resource at the time the home is counted as an available resource. Refer to 1030.010.10 Real Property as Available Resource. Enter in FAMIS as Class PP Personal Property, and Type HH HOUSEHOLD FURNISHINGS MHABD Excl Rsn HF HOUSEHOLD FURNISHINGS.
- Wedding and/or engagement ring, and watches owned by the applicant/participant or spouse. Enter in FAMIS as Class PP Personal Property, and Type JE JEWELRY MHABD Excl Rsn WE WED/ENGAGE RINGS AND WATCHES.
- A mobile home in which the applicant/participant or spouse has lived is counted the same as real property when considering available resources. This provision applies regardless of whether the mobile home can be moved or who owns the land on which it is located. When two mobile homes are joined to form one housing unit, consider them as one property for purposes of determining eligibility based on available resources.
- Farm surplus, livestock, machinery, equipment, tools, and similar items used in the course of business or employment. Enter in FAMIS as Class PP Personal Property and Type FM FARM MACHINERY or BE BUSINESS EQUIPMENT OR TOOLS and MAHBD Excl Rsn IP INCOME PRODUCING.
- The value of burial plots is exempt from consideration as an available resource, whether their intended use is for an applicant/participant, immediate family member, or someone else. Enter in FAMIS as Class PP Personal Property, and Type BP BURIAL PLOT MHABD Excl Rsn BR FUTURE BURIAL.