December 1973 Eligibility Requirements Manual

1040.020.15 Establishing Date Of Transfer

IM-98, December 3, 2012IM-42, June 23, 1994

Transfers of assets prior to the look-back date do not affect eligibility.

If the applicant/participant has transferred, sold, or given away any assets within the look-back period, obtain a description of the assets. Obtain facts regarding the transfer of real estate from the County Recorder’s Office, if possible.

For real property a transfer of assets occurs when the grantor has signed and dated the deed, and the deed has been given to the grantee (new owner). The date of transfer is the date the deed actually changed hands. The deed or other instrument must no longer be in the physical possession of the grantor. If the deed remains in the possession of the grantor, there has not been an improper transfer. In some instances, the grantor may specify the deed is revocable; that is, it can be ‘called back’ at the discretion of the grantor. However, if the grantee is in possession of the deed, the assets have been transferred.

NOTE:  The deed does not have to be recorded for the transaction to be considered a legal transfer of assets.

For personal property, cash and securities, etc., the date of transfer is the date on which possession was transferred.

Enter the details of the transfer of assets on the Adult MA Transfer of Assets (FMWQ) screen. Record the name and relationship (if any) of the person(s) to whom the assets were transferred on the comment screen from Adult MA Transfer of Assets (FMWQ).