I-864 joint assets

[Atcoolio 0]

Hello, I am starting to fill out the paperwork for the AOS for my wife. She came here a few weeks ago on a K-1 and we just got married.

I do not have a job right now so my parents will be joint sponsors. We are also living with them for now.

My mother has a steady income but my father does not. My mothers income is just barely below the 125% guideline. However, my parents own a rental property of which the value will exceed the minimum requirements. I would like to put that property on the I-864 but I have a few questions first.

1. On the I-864, since both my parents own that property, do they split the value? My mom will fill out her own I-864 and my dad an I-864A. For their joint bank accounts do they split the value as well?

2. Can we use the most recent tax assessment to valuate the house? An appraisal is quite expensive.

I am not even sure if we need to use the house as an asset to meet the requirements. But I want to use it just in case. The reason is because although my dad does work, he works odd jobs here and there and does not have steady income nor does he make very much money. I think it will be safer to use my mothers income plus the rental property as an asset.

Thank you

[KayDeeCee 4,893]

They need 5 times whatever amount they are short in income for their household size plus the intending immigrant. If they have no other dependents, then they need enough for a household of 3.

You could divide the joint assets evenly between them and list half for mom and half for dad. Supply the documentation needed to prove ownership and net value.

If they use property, then yes, they need an appraisal.

From Page 7 of the I-864 instructions>

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the
owner may be included. The owner of the asset must include a description of the asset, proof of ownership, and the basis
for the owner's claim of its net cash value.

You may include the net value of your home as an asset. The net value of the home is the appraised value of the home,
minus the sum of any and all loans secured by a mortgage, trust deed, or other lien on the home. If you wish to include the
net value of your home, this, you must include documentation demonstrating that you own it, a recent appraisal by a
licensed appraiser, and evidence of the amount of any and all loans secured by a mortgage, trust deed, or other lien on the
home. You may not include the net value of an automobile unless you show that you have more than one automobile, and
at least one automobile is not included as an asset.