Property Verification

Property must be verified at application, redetermination, and whenever a client reports a change in circumstance. Property can be verified by exparte of electronic data sources (MEDS/IEVS-AVP), and paper sources received within the last 90 days.

Verification Required

Principal Residence

The “Principal Residence Questionnaire” (SCD 1407) must be completed only when the information is not included in the most recent Statement of Facts.

The questionnaire must be returned within 30 calendar days
Send a case alert for return
If not returned, contact the applicant/client to determine the reason for the delay
No valid reason, deny or discontinue with timely NOA for failure to provide essential information.

Market Value of Real Property Other Than Home

Tax statement
Records maintained by tax assessor's office
Written statement from a member of a recognized professional appraisal society which gives the appraisal value of the property
Checking account, savings account (current statement).
Recently signed correspondence from the institution holding funds.
An ATM receipt may be used only as a temporary verification until the next routine bank statement is available.

Value of Stocks, Bonds, and Mutual Funds

Viewing certificate or signed statement from issuing institution stating the description of the investment, including the number of shares owned, and
Telephone contact with a recognized stock exchange broker to establish the current selling price of the property, through listing in the current newspaper.

U.S. Savings Bonds

View Bonds, and
Contact bank or institution where bonds may be liquidated.

Deeds of Trusts, Mortgages, and Promissory Notes.

View documents, and
Take one of the following actions:
- View document from lender which establishes principal amount remaining on the note
- Appraisal from a qualified person.
- Telephone call to the recognized broker.

Value of Nonexempt Vehicles.

Vehicle registration
Kelley Blue Book, or
Appraisal statement.

Note: The value of an exempt vehicle does not have to be verified.

Nonexempt Insurance Policies

Value tables included in policy
Statement from insurance company.

Nonexempt jewelry (NMV over $100 for each piece)

Three appraisal statements.

Burial Trusts or Pre-Paid Burial Contract

View Trust or Contract
Signed correspondence from the trustor or contractor which details its value

Nonexempt Property Held in Trust

Document indicating current value
Appraisal of property.

Value of Oil Leases

Written or telephone contact with a professional appraisal society
Records maintained by a tax assessor
Written or telephone contact with the company or organization developing the natural resource which establishes the current value.