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Owning property and renting while receiving ssi benefits.

West Liberty, KY |

Hello,

I own property and receive SSI benefits. I am aware that I must live on the property in order to continue to receive benefits, but I am going to college and it is 40 miles away. I am hoping I can rent an apartment to stay in while school is in session and continue to receive ssi benefits. The drive is just too much for me to make every day. Is it possible for me to do this?

Attorney Answers 1

Posted

No.

Once you do not live there and are renting it, it becomes an asset that is counted against you.

Disclaimer Information on this site is provided by attorney Clint Curtis as general information and not specific legal advice. Specific advice can only be provided after a complete analysis of all information related to the asker. No attorney-client relationship is established by the use of the information provided. If you have additional questions please contact the law office.

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6 comments

Asker

Posted

I'm sorry, I wasn't clear enough. I won't be renting my place to someone else, what I want to do is rent an apartment for myself in the town my college is located so that I don't have to commute daily (I don't own a vehicle anyway).

Clint Curtis

Clint Curtis

Posted

Here is the list from SS SUPPLEMENTAL SECURITY INCOME (SSI) RESOURCES WHAT ARE RESOURCES? Resources are things you own such as: small blue and black arrowcash; small blue and black arrowbank accounts, stocks, U.S. savings bonds; small blue and black arrowland; small blue and black arrowlife insurance; small blue and black arrowpersonal property; small blue and black arrowvehicles; small blue and black arrowanything else you own which could be changed to cash and used for food or shelter; and small blue and black arrowdeemed resources. WHAT ARE DEEMED RESOURCES? Sometimes we “deem” a portion of the resources of a spouse, parent, parent’s spouse, sponsor of an alien or sponsor’s spouse as belonging to the person who applies for SSI. We call this process the deeming of resources. If a child under age 18 lives with one parent, $2,000 of the parent's total countable resources does not count. If the child lives with 2 parents, $3,000 does not count. We count amounts over the parents’ limits as part of the child's $2,000 resource limit. WHY ARE RESOURCES IMPORTANT IN THE SSI PROGRAM? The value of your resources is one of the factors that determine whether you are eligible for SSI benefits. However, not all resources count for SSI. If the value of your resources that we count is over the allowable limit at the beginning of the month, you cannot receive SSI for that month. If you decide to sell the excess resources for what they are worth, you may receive SSI beginning the month after you sell the excess resources. You may even be able to receive benefits while you try to sell the excess resources in certain situations. blank spacer NOTE See the SSI Spotlight on Getting SSI Benefits While You Try to Sell Excess Resources. WHAT IS THE RESOURCE LIMIT? The limit for countable resources is $2,000 for an individual and $3,000 for a couple. WHAT RESOURCES DO NOT COUNT FOR SSI? For SSI, we do not count: the home you live in and the land it is on; household goods and personal effects (e.g., your wedding and engagement rings); burial spaces for you or your immediate family; burial funds for you and your spouse, each valued at $1,500 or less (See the SSI Spotlight on Burial Funds); life insurance policies with a combined face value of $1,500 or less; one vehicle, regardless of value, if it is used for transportation for you or a member of your household; retroactive SSI or Social Security benefits for up to nine months after you receive them (including payments received in installments); grants, scholarships, fellowships, or gifts set aside to pay educational expenses for 9 months after receipt. If you do not live in the house then they will treat it as an asset and take away your SSI.

Asker

Posted

Thanks for clearing that up for me. I wasn't sure I had been clear in my wording.

Clint Curtis

Clint Curtis

Posted

Doesn't seem fair but that's the way they do it.

Asker

Posted

I agree, thanks for answering my question though!

Ingrid Arnalda Morfa

Ingrid Arnalda Morfa

Posted

I agree with Mr. Curtis. Although it seems unfair, you must play by the rules established by the SSA in order to avoid losing your benefit.

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