question about assets for spouse visa!

[TheBible 2]

Ok, here go my question... I'm in a process of buying a home the closing date is set for end of the month. Should I include/exclude it as assets?

[NigeriaorBust 4,087]

if it your primary home you can't liquidate it without harm so you don't include it. If it is a rental then you can include the net value ( appraised market - amounts owed) only.

[TheBible 2]

if it your primary home you can't liquidate it without harm so you don't include it. If it is a rental then you can include the net value ( appraised market - amounts owed) only.

Hi NigeriaB,

Its a multi Fam. I'm going to live up stair and down stair' going to be a rental. so its owner occupied. thanks for your help

[Boggy1974 124]

if it your primary home you can't liquidate it without harm so you don't include it. If it is a rental then you can include the net value ( appraised market - amounts owed) only.

I'm confused by this answer. Can you provide the source (s) of this info? A link? A reference material?

[NigeriaorBust 4,087]

Use of your own home has been allowed sometimes and not at others . In part 7 of the instructions for the I 864 use of assets there is a statement that only assets that can be converted to cash within a year without considerable hardship or financial loss may be used. It has been ruled that seling your only home causes you to be homelsss which falls under the hardship restriction ( like using your only car ) Second properties are not held to that standard. The OP has a multiunit dwelling so they can claim income off the other units even if they can't split them for sale or have any positive net value