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§ 50405. Contracts of Sale.

22 CA ADC § 50405Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 22. Social Security
Division 3. Health Care Services
Subdivision 1. California Medical Assistance Program (Refs & Annos)
Chapter 2. Determination of Medi-Cal Eligibility and Share of Cost
Article 9. Property
22 CCR § 50405
§ 50405. Contracts of Sale.
Currentness
(a) Property purchased under a signed contract of sale by the applicant or beneficiary shall be included in the property reserve of the applicant or beneficiary.
(b) Property being sold by the applicant or beneficiary under a signed contract of sale shall not be considered the property of the applicant or beneficiary. The interest payments received under the contract of sale shall be unearned income. The principal payments received under the contract of sale shall be property.
(c) Property being purchased or sold under a verbal or unsigned contract of sale shall be considered the property of the seller until the sale is complete.

Credits

Note: Authority cited: Sections 10725 and 14124.5, Welfare and Institutions Code. Reference: Section 14006, Welfare and Institutions Code.
History
1. Change without regulatory effect adding Note filed 10-11-88 (Register 88, No. 45).
This database is current through 6/21/24 Register 2024, No. 25.
Cal. Admin. Code tit. 22, § 50405, 22 CA ADC § 50405
End of Document