Assessment of asset value of Home Equity Conversion loans and Reverse Mortgages 108-04100020

Policy

Social Security Guide 1.1.H.70 Home equity conversion agreement

Social Security Guide 4.3.8.10 Home equity conversion agreement

Social Security Guide 4.6.5.90 Assessing home equity conversion loans

Social Security Guide 4.4.1.30 Scope of deeming

Social Security Guide 4.6.4.40 Assessing sale leaseback residences

Legislation

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Income Test

Social Security Act 1991

• Section 8, Income test definitions
• subsection 4, Excluded amounts - home equity conversion (not member of a couple)
• subsection 5, Excluded amounts - home equity conversion (member of a couple)
• subsection 6, Home equity conversion (amount owed)
• subsection 7, Home equity conversion (principal home)

Homeowner and principal home

Social Security Act 1991, section 11, Assets test definitions

• section 11, Assets test definitions
• subsection 4, Homeowner

Assets to be disregarded

Social Security Act 1991, section 1118, Certain assets to be disregarded in calculating the value of a person's assets

Sale leaseback definition

Social Security Act 1991, section 12(B), Sale leaseback definitions