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Current as of January 01, 2025 | Updated by Findlaw Staff
Subdivisions 1 to 6. Repealed byLaws 1997, c. 107, § 19.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 Repealed byLaws 1997, c. 107, § 19.
Cite this article: FindLaw.com - Minnesota Statutes Public Welfare and Related Activities (Ch. 245-267) § 256B.17. Transfers of property - last updated January 01, 2025 | https://codes.findlaw.com/mn/public-welfare-and-related-activities-ch-245-267/mn-st-sect-256b-17/
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