See 0015.11 (Excluded Assets - Contracts for Deed) for how to treat contracts for deed and other property agreements as assets.


MFIP, MSA, GA, GRH:
Count all payments (EXCEPT the principal portion, which is considered an asset) of a contract for deed or other property agreement as unearned income. If the owner of the contract or property agreement is paying the property taxes and/or homeowner's insurance, allow these as deductions from the non-principal portion of the payment.

If the real property is encumbered by another mortgage or contract for deed and the owner of the contract is making that payment, allow a deduction for the interest portion of that payment.


DWP:
Follow MFIP. After the initial DWP determination, exclude any unanticipated income the unit may receive.


SNAP:
Count all payments (including the principal portion) of a contract for deed or other property agreement as unearned income. If the owner of the contract or property agreement is paying the property taxes and/or homeowner's insurance, allow these as deductions from the payment. If the real property is encumbered by another mortgage or contract for deed, and the owner of the contract is making that payment, allow a deduction for the interest portion of that payment.