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Personal Property Overview - SNAP (Food Stamps)

In the Supplemental Nutrition Assistance Program (SNAP, formerly Food Stamp Program), personal property consists of all property excluding real property. Cash assets which are a form of personal property consist of cash-on-hand and cash equivalent items such as money in checking and savings accounts, stocks or bonds, the cash surrender or loan value of life insurance policies, trust funds, and similar items on which a determinate amount of money can be realized. Other personal property as used in the definition includes such items as personal effects, household equipment and furnishings, other personal property such as tools and equipment, vehicles, prepaid funeral contracts, and contracts from the sale of real or personal property.

Exclude household goods customarily found in the home and intended for its maintenance, use, or occupancy such as:

·        Furniture and furnishings,

·        Appliances,

·        Carpets,

·        Dishes and utensils, and

·        Televisions and audio equipment.

Also, exclude personal effects such as clothing or jewelry.

In addition, exclude items if the household is making a good faith effort to sell them at a reasonable price and any property that is held in probate. In some States, this exclusion does not apply. For additional guidance, click on the State name in the list below if you live in one of them:

·         Alaska

·         Arkansas

·         Florida

·         South Dakota

·         Virginia

If personal property is counted, then for non-liquid resources, the equity value (fair market value less encumbrances) of the personal property is used. For liquid resources, the cash value is usually used.

As with all assets, personal property that is owned jointly by separate households is considered available in its entirety to each household unless the household demonstrates that the personal property is inaccessible. If the household can demonstrate that it has access to only a portion of the personal property, the value of that portion of the personal property is counted toward the household's resource level. The personal property is considered totally inaccessible to the household if the personal property cannot practically be subdivided and the household's access to the value of the personal property is dependent on the agreement of a joint owner who refuses to comply.

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