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Assessing a life interest in a home 108-04070070

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Policy

Social Security Guide, 1.1.I.185, Interest in an asset (life, remainder, reversionary, contingent)

Social Security Guide, 4.6.3.20, Determining Homeowners & Non-homeowners

Social Security Guide, 4.6.3.30, Defining the Principal Home

Legislation

Links to the Federal Register of Legislation site go to an 'All versions' page. Select the 'Latest' version.

Social Security Act 1991

  • section 11A, Principal home definition for the purpose of the assets test
    • Subsection 8, Reasonable security of tenure
  • section 1118(1), Certain assets to be disregarded in calculating the value of a person's assets