California Civil Code

§ 1923.9

CIV § 1923.9 Effective Jan 1, 1998Div. 3 · Title 4 · Part 4 · Ch. 8

Statute text

(a)To the extent that implementation of this section does not conflict with federal law resulting in the loss of federal funding, reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under means-tested programs of aid to individuals.

(b)Undisbursed reverse mortgage funds shall be treated as equity in the borrower’s home and not as proceeds from a loan, resources, or assets for the purpose of determining eligibility and benefits under means-tested programs of aid to individuals.

(c)This section applies to any law or program relating to payments, allowances, benefits, or services provided on a means-tested basis, by this state, including, but not limited to, optional state supplements to the federal supplemental security income program, low-income energy assistance, property tax relief, general assistance, and medical assistance only to the extent this section does not conflict with Title 19 of the federal Social Security Act.

…

Legislative history

Added by Stats. 1997, Ch. 797, Sec. 1. Effective January 1, 1998.