An individual must provide evidence to the department of the value of other real property which the individual owns or in which the individual has an interest. To provide this evidence, an individual must submit a list of current encumbrances of record against the property and the fair market value as determined by any of the following:

1. (1) A real estate appraiser;
2. (2) A BIA or tribal realty office;
3. (3) An average of three estimates from individuals, other than the applicant or recipient, familiar with and able to place a value on the property;
4. (4) A bank or savings and loan official; or

5. (5) The Farmers Home Administration.

   Evidence submitted under this section may be verified by the department.

Source: 24 SDR 24, effective August 31, 1997.

General Authority: SDCL 28-7A-3(1)(3).

Law Implemented: SDCL 28-7A-3(1)(3).