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Disqualifying Transfers 510-05-80

 

Definitions 510-05-80-05

(Revised 6/1/22 ML #3675)

 

 

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(N.D.A.C. Sections 75-02-02.1-33.1 and 75-02-02.1-33.2)

 

For purposes of this section:

  1. Assets or income an individual disposes of means assets or income to which the individual is entitled, or would be entitled if action, or inaction, causes the individual  to not receive the asset or income. Examples of actions which would cause assets or income not to be received are:
  1. Irrevocably waiving pension income;
  2. Waiving an inheritance; or
  3. Not accepting or accessing injury settlements.
  1. Fair Market value means:
  1. In the case of a liquid asset that is not subject to reasonable dispute concerning its value, such as cash, bank deposits, stocks, and commodities, one hundred percent of apparent fair market value;
  2. In the case of real or personal property that is subject to reasonable dispute concerning its value 75% of estimated fair market value and;
  1. In the case of income, one hundred percent of apparent fair market value.
  1. "Relative" means child, stepchild, grandchild, parent, stepparent, grandparent, aunt, uncle, niece, nephew, brother, sister, stepbrother, stepsister, half-brother, half-sister, first cousin, or in-law.
  1. "Uncompensated value" means the difference between fair market value as of the date of transfer and the value of any consideration received.

When the party that receives the transferred property also assumes any outstanding loan(s) on the property, the amount of the outstanding loan(s) is consideration received.

Example: Mr. Green owns property with an estimated value of $80,000. He has a mortgage for $50,000 on the property. If Mr. Green sells the property for $30,000 and the purchaser assumes the mortgage, Mr. Green is actually receiving $80,000 in compensation, and there is no disqualifying transfer. If the purchaser does not assume the mortgage, the uncompensated value is $50,000 (the difference between $30,000 and the estimated market value of $80,000).

  1. "Community spouse" has the same meaning as in 05-65-10, Definitions for Spousal Impoverishment.
  2. "Home and Community Based Services spouse" has the same meaning as in 05-65-10, Definitions for Spousal Impoverishment.  
  3. "Institutionalized spouse" has the same meaning as in 05-65-10, Definitions for Spousal Impoverishment.
  4. The average cost of nursing facility care is:

 

     

Year

Daily Rate

Monthly Rate

2022 352.42 10,719
2021 313.08 9522.85
2020 302.95 9214.73
2019 280.4 8530.05
2018 270.71 8234.10
July - Dec 2017 265.35 8071.06
Jan 2017 257.90 7844.46
2016 258.78 7871.23
2015 249.79 7595.04
2014 238.94 7268
July-Dec 2013 231.39 7038
Jan-2013 223.30 6792

2012

213.82

6504

2011

205.07

6238

2010

195.55

5948

2009

179.27

5453

2008

165.59

5037

2007

159.96

4865

2006

152.33

4633

2005

144.48

4395

2004

137.59

4185

2003

129.71

3945

2002

127.05

3864

July-Dec2001

120.08

3652

Jan-June 2001

109.98

3345

2000

104.94

3192

1999

97.68

2971

1998

94.31

2869

1997

89.00

2713

1996

85.00

2562

1995

80.00

2419

1994

74.00

2339

 

 

 

 

 

 

 

 

 

 

 

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