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The SSI disability program is a need based disability program; therefore like other need based programs it has a resource limit. Resources, of course, means assets. Currently, the resource limit for an individual applying for SSI benefits is two thousand dollars and the couple’s resource limit is three thousand dollars. Note: Countable assets are a factor of eligibility for SSI only. There is no asset limit for SSDI (also known as SSD, or Social Security Disability). Since SSDI does not have asset requirements then selling of the rentals should not incur any penalties and this should not be counted as income.Social Security considers a countable asset for the SSI disability resource limit to be any of the following:1. Cash, savings bonds, stocks, or bank accounts;2. Vehicles;3. Land;4. Houses;5. Life insurance policies with a cash value;6. Personal property;7. Any other asset that could be easily converted to cash for food or shelter.The following are not counted toward the SSI resource limit:1. The home you live in and the land it is on;2. Your household goods and personal belongings (i.e. wedding or engagement ring);3. Life insurance policies with a combined cash value of $1500.00 or less;4. Grants, scholarships, fellowships, or gifts set aside for education are not counted for nine months after receiving them;5. One vehicle, regardless of value, if you use it for transportation for you or family;6. Burial spaces for you or your immediate family;7. Burial funds set aside for you or your spouse in the amount of $1500.00 or less;8. Retroactive Social Security disability or SSI disability benefits (including SSI installment payments) are excluded for nine months following their receipt.
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