Current through Register Vol. 49, No. 8, August 19, 2024
Section 256B.17 - TRANSFERS OF PROPERTYSubdivision 1.[Repealed, 1997 c 107 s 19]
Subd. 2.[Repealed, 1997 c 107 s 19]
Subd. 3.[Repealed, 1997 c 107 s 19]
Subd. 4.[Repealed, 1997 c 107 s 19]
Subd. 5.[Repealed, 1997 c 107 s 19]
Subd. 6.[Repealed, 1997 c 107 s 19]
Subd. 7.Exception for asset transfers.An institutionalized spouse, institutionalized before October 1, 1989, for a continuous period, who applies for medical assistance on or after July 1, 1983, may transfer liquid assets to a noninstitutionalized spouse if all of the following conditions apply:
(a) The noninstitutionalized spouse is not applying for or receiving assistance;(b) Either (1) the noninstitutionalized spouse has less than $10,000 in liquid assets, including assets singly owned and 50 percent of assets owned jointly with the institutionalized spouse; or (2) the noninstitutionalized spouse has less than 50 percent of the total value of nonexempt assets owned by both parties, jointly or individually;(c) The amount transferred, together with the noninstitutionalized spouse's own assets, totals no more than one-half of the total value of the liquid assets of the parties or $10,000 in liquid assets, whichever is greater; and(d) The transfer may be effected only once, at the time of initial medical assistance application.Subd. 8.[Repealed, 1997 c 107 s 19]
Ex1967 c 16 s 17; 1981 c 360 art 2 s 30; 1983 c 312 art 5 s 20-24; 1984 c 534 s 23; 1985 c 252 s 23; 1986 c 444; 1987 c 403 art 2 s 83, 84; 1988 c 689 art 2 s 151, 268; 1989 c 282 art 3 s 98; 1990 c 568 art 3 s 95, 96; 1997 c 107 s 7