§ 416.1218. Exclusion of the automobile.
126 words·~1 min read·
/us/cfr/t20/s§ 416.1218·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Automobile; defined. As used in this section, the term automobile includes, in addition to passenger cars, other vehicles used to provide necessary transportation.
(b)Limitation on automobiles. In determining the resources of an individual (and spouse, if any), automobiles are excluded or counted as follows:
(1)Total exclusion. One automobile is totally excluded regardless of value if it is used for transportation for the individual or a member of the individual's household.
(2)Other automobiles. Any other automobiles are considered to be nonliquid resources. Your equity in the other automobiles is counted as a resource. (See § 416.1201(c).) [40 FR 48915, Oct. 20, 1975, as amended at 44 FR 43266, July 24, 1979; 50 FR 42687, Oct. 22, 1985; 70 FR 6345, Feb. 7, 2005]