S.D. Admin. R. 67:10:04:08
Other real property is valued according to its equity value. The department may waive the maximum resource limit for up to six months if the other real property is placed on the market. The department may approve an application for assistance and may pay assistance regardless of the ownership of other real property if the owner or owners sign an agreement to sell the property and to repay the department the amount of assistance received that would not have been received had the property been sold at the beginning of the period. Repayment may not exceed the amount of the net proceeds of the sale.
After signing the agreement, the owner must take immediate action to sell the property. The action to sell must consist of listing the other real property with a reputable and active real estate broker who will use best efforts to find a buyer. Listing the property in the local newspaper is not sufficient. The property must be sold for a reasonable price as determined according to § 67:10:04:09. If the property is not sold within the six-month limit or the family becomes ineligible for assistance, the department considers the entire amount of assistance paid during this period to be an overpayment.
S.D. Admin. R. 67:10:04:08
General Authority: SDCL 28-7A-3(1)(3).
Law Implemented: SDCL 28-7A-3(1)(3).