SSI & HOME OWNERSHIP
Can You Own a Home and Receive SSI in Michigan and Ohio?
Social Security Disability benefits are for renters and homeowners alike. If your health has stopped you from working, this financial lifeline should be available to you regardless of your living arrangements.
But it’s important to understand that not all disability benefits are the same. One of the major forms of Social Security Disability, Supplemental Security Income (SSI), is only for people with limited economic resources.
Some people who come to our Detroit disability lawyers for help getting disability benefits wonder if owning a home disqualifies them.
Isn’t a home too valuable? Won’t the government think I have too much money to qualify for SSI?
The short answer to both questions is no. Social Security makes exceptions to the SSI asset limits for certain things, including your primary residence.
However, your situation can get complicated if you inherit another property, try to sell your current residence, or have other real estate, assets or income that put you over the limit.
The Michigan disability attorney team at Levine Benjamin Law Firm can talk to you about your unique circumstances and help you avoid getting denied for SSI benefits.
From applying to appealing, we help you every step of the way.
WHAT WOULD YOU LIKE TO DO?
Resource Limitations for SSI Recipients
The health-related rules to qualify for SSI are the same as those for Social Security Disability Insurance (SSDI)—which is the program for people with longer work records.
You have to show that your health has stopped you from working any job and that this will continue to be an issue for a long time, 12 months or more.
But it’s important to understand that Supplemental Security Income is also a need-based program.
If you have too much money or assets available to you, your application for SSI benefits will be denied.
For SSDI, you only must be unable to work. You can have any amount in your savings account, any investments, any real estate, cars and other valuable items and still get SSDI.
SSI is different:
- Individuals can have no more than $2,000 in financial resources.
- Couples can have no more than $3,000 in financial resources.
This is a strict limitation, one the government has not updated in nearly four decades. It is incredibly overdue.
Bur Social Security does understand that you need somewhere to live, and your own home shouldn’t be held against you when you need financial assistance for work-blocking health issues, so your primary home is exempt from this calculation.
As long as you continue living there and don’t move out with no plans to return, it won’t be a countable asset.
You can also own one car (as long as you need the car for essential transportation).
It’s a huge relief that your home won’t count against you, but the SSI limit can still be a tough limit to stay under.
Any faulty bookkeeping can cause a denial of your SSI claim or endanger benefits you’ve already been approved for.
If you have any doubt about whether you fit these asset requirements, you should talk to an experienced Michigan SSI lawyer about your claim.
Get your FREE CONSULTATION with Levine Benjamin. You can talk to us about your situation, no obligations.
When Does a Home Count as a Resource for SSI Disability Benefits?
Your primary home won’t count against SSI’s resource limit, but any other home or property you own can complicate matters.
If you own a vacation home or a rental property before applying for SSI, it’s going to be nearly impossible to qualify for benefits.
Any inheritance you receive can also endanger your eligibility for SSI benefits, and inheriting property can be especially tricky if you already own a primary home.
Social Security isn’t going to let you keep two different properties and exempt both from your countable resources.
You may have to sell an inherited property if you want to continue to receive SSI payments, but even that comes with its own complexities.
You’ll make money from the sale, and that’s a countable resource to Social Security.
It’s a good idea to talk to a Michigan or Ohio disability attorney if you get an inheritance, especially a property, while applying for or receiving SSI.
Will Selling My Primary Residence Affect My SSI?
We’ve talked about the complications that come with selling a second property, but what happens if you want to sell your primary residence?
There are many reasons you might want to sell your home.
Whether you want to downsize to keep up with expenses or move closer to family, the proceeds from that sale are nearly guaranteed to put you over the resource limit.
That can make you ineligible for SSI in the moment that you sell your home, and it looks on paper like you got a big boost in cash, but you could start receiving benefits again if you purchase a new home within three months.
Take too long to buy something new for a primary residence and any money you made selling your home will begin to count against you.
If buying a new home isn’t a part of your plan, you could spend down the money from the sale of your primary residence by paying for necessities.
Housing is a necessity, but you could also use the money for:
- Medical bills
- Paying down debts, like credit card bills
- Transportation, like the costs of buying or repairing a vehicle
Levine Benjamin disability lawyers can help you navigate this.
We have helped more than 100,000 people in Detroit, Toledo, South Bend, and across the states of Michigan, Ohio and Indiana win benefits.
We won’t just help you apply for SSI. We’ll also answer your questions about the program’s asset limitations and help you understand what could interrupt your benefits in the future.