3.3.03 Transfers for FMV

MDV 68/86274 (04/03/1995)
Real estate sold to son below FMV was divestment, no written agreement re his services

Tags: 3 Financial Eligibility, 3.2 Assets, 3.2.1 Availability, 3.2.6 Liquid assets, 3.2.6.12 Land contract, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.07.2 For services, 3.3.12 Homestead property, ALJ Kenneth P. Adler

DHA Case No. MDV 68/86274 (Wis. Div. Hearings and Appeals Apr. 3, 1995) (DHS) ↓ Download PDF It is generally a divestment to transfer an asset while receiving less than its fair market value in cash, services, or other forms of payment. In this case, the petitioner and her husband sold their homestead real estate […] Read more

MDV 13/10761 (02/19/1997)
Real estate sold to daughter below FMV was divestment, despite daughter’s payments of property expenses

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.07 Payments to relatives, 3.3.07.2 For services, 3.3.22 Community spouse divestment, 3.3.22.1 Before 5 years, ALJ Gary M. Wolkstein

DHA Case No. MDV 13/10761 (Wis. Div. Hearings and Appeals Feb. 19, 1997) (DHS) ↓ Download PDF It is generally a divestment to transfer an asset while receiving less than its fair market value in cash, services, or other forms of payment. In this case, the petitioner’s spouse sold their non-homestead real estate for $20,590 […] Read more

MDV 71/35825 (08/28/1998)
Home sold on market for less than tax assessed value not a divestment

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.12 Homestead property, 5 Subprograms, 5.04 Institutional Long-Term Care, ALJ Kenneth D. Duren

DHA Case No. MDV 71/35825 (Wis. Div. Hearings and Appeals Aug. 28, 1998) (DHS) ↓ Download PDF It is generally a divestment to sell real estate for less than its fair market value. In this case, the petitioner sold his home on the market for $62,000, less than its tax-assessed value of $72,100. ALJ Kenneth […] Read more

MDV 40/44764 (2001)
Home sold on market for less than tax assessed value not a divestment

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.12 Homestead property, 4 Program Administration, 4.7 Notices & fair hearings, 5 Subprograms, 5.04 Institutional Long-Term Care, ALJ Joseph A. Nowick

DHA Case No. MDV 40/44764 (Wis. Div. Hearings and Appeals 2001) (DHS) ↓ Download PDF It is generally a divestment to sell real estate for less than its fair market value. In this case, the petitioner sold her duplex on the market for $72,500, less than its tax-assessed value of $95,900. ALJ Joseph Nowick concluded […] Read more

MDV 45/81748 (02/26/2007)
Refinancing appraisal established FMV, despite arguments re deteriorated condition

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.12 Homestead property, 5 Subprograms, 5.04 Institutional Long-Term Care, ALJ Kenneth P. Adler

DHA Case No. MDV 45/81748 (Wis. Div. Hearings and Appeals Feb. 26, 2007) (DHS) ↓ Download PDF A certified appraisal generally considers a home’s condition when estimating its fair market value. In this case, the petitioner sold her home to her son for $80,000. About one year earlier, an appraisal done for refinancing estimated the […] Read more

MDV 23/81821 (04/19/2007)
FMV of farm not reduced by land contract

Tags: 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.12 Homestead property, 3.3.15 Trusts, 3.3.15.4 Irrevocable trusts—created during or after look back, 3.3.18 Promissory notes – loans – land contracts – mortgages, ALJ Gary M. Wolkstein

DHA Case No. MDV 23/81821 (Wis. Div. Hearings and Appeals Apr. 19, 2007) (DHS) ↓ Download PDF Fair market value is an estimate of the amount an asset will sell for in an arms-length transaction on the open market. In this case, the petitioner established an irrevocable trust and funded it with stocks, life insurance, […] Read more

MDV 13/84361 (05/21/2007)
Purchase of life estate in daughter’s home was for FMV

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.25 Life estates, 3.3.25.5 Purchase of life estate in another’s home, 4 Program Administration, 4.7 Notices & fair hearings, ALJ Kenneth D. Duren

DHA Case No. MDV 13/84361 (Wis. Div. Hearings and Appeals May 21, 2007) (DHS) ↓ Download PDF The purchase of a life estate in another person’s home is a divestment if the payment exceeds the value of the life estate. In this case, the petitioner was an elderly woman who moved into her daughter’s home. […] Read more

MDV 153086 (01/17/2014)
Appraisal established FMV over the county tax assessment

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, ALJ Michael D. O’Brien

DHA Case No. MDV 153086 (Wis. Div. Hearings and Appeals Jan. 17, 2014) (DHS) ↓ Download PDF Generally, selling real estate for less than its fair market value is a divestment. In this case the petitioner sold her property (in which she had a life estate) for $55,000 after it was appraised at $74,000. The […] Read more

MDV 37/61571 (04/07/2004)
Real estate FMV determined by appraisal, not county assessment, but no discount for not using realtor

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 5 Subprograms, 5.04 Institutional Long-Term Care, ALJ Sean P. Maloney

DHA Case No. MDV 37/61571 (Wis. Div. Hearings and Appeals Apr. 7, 2004) (DHS) ↓ Download PDF Fair market value is an estimate of the amount an asset will sell for in an arms-length transaction on the open market. In this case, the petitioner sold three residential properties to his sons for their appraised value, […] Read more

MDV 210958 (03/13/2024)
Zillow estimate could not be used to determine FMV

Tags: 3 Financial Eligibility, 3.2 Assets, 3.2.7 Real property, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.06 Transfers made for purpose other than to qualify for Medicaid, 5 Subprograms, 5.05 Home and Community-Based Waivers Long-Term Care, 5.05.7 Effective date, ALJ Debra Bursinger

DHA Case No. MDV 210958 (Wis. Div. of Hearings and Appeals March 13, 2024) (DHS) ↓ Download PDF The fair market value of real estate may be established by assessment, statements from realtors, or a comparative market analysis. In this case, the agency relied solely on the fair market value estimate it found on Zillow […] Read more

MDV 198612 (06/24/2020)
No divestment for renting farm; divestment for family tuition payments, charitable gifts over 15%

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.06 Transfers made for purpose other than to qualify for Medicaid, 3.3.06.3 Pattern of gifting, 3.3.07 Payments to relatives, 3.3.07.1 For room and board, 5 Subprograms, 5.04 Institutional Long-Term Care, ALJ Jason M. Grace

DHA Case No. MDV 198612 (Wis. Div. of Hearings and Appeals June 24, 2020) (DHS) ↓ Download PDF Any transfer of resources for less than fair market value is generally a divestment, but there is an exception if the resource was transferred “exclusively for some other purpose than to become eligible for MA.” In this […] Read more

FCP 177944 (12/13/2016)
Closing costs deducted from divestment amount

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.25 Life estates, 3.3.25.3 Life estate—termination and payment of less than FMV, 5 Subprograms, 5.05 Home and Community-Based Waivers Long-Term Care, 5.05.1 Family Care, ALJ Michael D. O’Brien

DHA Case No. FCP 177944 (Wis. Div. of Hearings and Appeals December 13, 2016) (DHS) ↓ Download PDF It is a divestment when a life estate is terminated and the life estate holder is not paid her proportional share. In this case, the petitioner’s life estate was divested when she sold her home and her […] Read more

MDV 183502 (12/06/2017)
No divestment for paying realtor fee

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.25 Life estates, 3.3.25.1 Life estate—transfer of property for less than FMV, 5 Subprograms, 5.04 Institutional Long-Term Care, ALJ John P. Tedesco

DHA Case No. MDV 183502 (Wis. Div. of Hearings and Appeals December 6, 2017) (DHS) ↓ Download PDF Adivestment occurs upon the transfer of a non-exempt resource for less than fair market value. In this simple case, the petitioner sold the home in which she had a life estate and paid a prorated portion of […] Read more

MDV 199054 (08/25/2020)
No divestment: home sold for less than assessed value, petitioner paid closing costs

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.25 Life estates, 3.3.25.1 Life estate—transfer of property for less than FMV, ALJ Debra Bursinger

DHA Case No. MDV 199054 (Wis. Div. of Hearings and Appeals August 25, 2020) (DHS) ↓ Download PDF A divestment occurs upon the transfer of a non-exempt resource for less than fair market value. In this case, the petitioner sold the home in which she had a life estate for $3,200 less than the tax […] Read more

MDV 199858 (12/04/2020)
No divestment for paying boyfriend for services, but house sold less than FMV

Tags: 3 Financial Eligibility, 3.3 Divestment, 3.3.03 Transfers for FMV, 3.3.07 Payments to relatives, 3.3.07.2 For services, 5 Subprograms, 5.05 Home and Community-Based Waivers Long-Term Care, ALJ Debra Bursinger

DHA Case No. MDV 199858 (Wis. Div. of Hearings and Appeals December 4, 2020) (DHS) ↓ Download PDF Divestment is a transfer of non-exempt resources for less than fair market value. This case involved two potential divestments when the petitioner’s house was sold to her daughter and daughter’s boyfriend: (1) the boyfriend was paid $40,534.37 […] Read more

Tag: 3.3.03 Transfers for FMV