1. (a) Real property not exempt as a principal residence, including deeds of trust as specified in Section 50441(b), is other real property.

2. (b) Other real property not exempt under any other section of these regulations shall be exempt if both of the following conditions are met:

   1. (1) The combined net market value of all other real property is $6,000 or less.
   2. (2) The owner meets the utilization requirements set forth in Section 50416.

3. (c) Other real property with a net market value of more than $6,000 shall be considered as follows:

   1. (1) The first $6,000 of net market value shall be exempt if the owner meets the utilization requirements set forth in Section 50416.
   2. (2) The net market value in excess of $6,000 shall be included in the property reserve.

Note: Authority cited: Sections 10725, 14006.1 and 14124.5, Welfare and Institutions Code; Section 57(c), Chapter 328, Statutes of 1982; Section 87, Chapter 1594, Statutes of 1982. Reference: Sections 11153.7 and 14006, Welfare and Institutions Code.

History

1. Amendment filed 12-2-85 as an emergency; effective upon filing (Register 85, No. 50). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 4-1-86. For prior history, see Register 84, No. 51.

2. Certificate of Compliance transmitted to OAL 3-31-86 and filed 4-30-86 (Register 86, No. 18).