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w) A lump sum or a periodic payment <br />received by an individual Indian pursuant to <br />the Class Action Settlement Agreement in <br />the case entitled Elouise Cobell et al.v.Ken <br />Salazar et al., United States District court, <br />District of Columbia, as provided in the <br />Claims Resolution Act of 2010 (Pub.L. l l l - <br />291). <br />EXHIBIT 6-3: TREATMENT OF FAMILY ASSETS <br />24 CFR 5.603(b) Net Family Assets <br />(1) Net cash value after deducting reasonable <br />costs that would be incurred in disposing of <br />real property, savings, stocks, bonds, and other <br />forms of capital investment, excluding <br />interests in Indian trust land and excluding <br />equity accounts in HUD homeownership <br />programs. The value of necessary items of <br />personal property such as furniture and <br />automobiles shall be excluded. <br />(2) Incases where a trust fund has been <br />established and the trust is not revocable by, or <br />under the control of, any member of the family <br />or household, the value of the trust fund will <br />not be considered an asset so long as the fund <br />continues to beheld intrust. Any income <br />distributed from the trust fund shall be counted <br />when determining annual income under Sec. <br />5.609. <br />(3) In determining net family assets, PHAs or <br />owners, as applicable, shall include the value <br />of any business or family assets disposed of by <br />an applicant or tenant for less than fair market <br />value (including a disposition intrust, but not <br />in a foreclosure or bankruptcy sale) during the <br />two years preceding the date of application for <br />the program or reexamination, as applicable, in <br />excess of the consideration received therefore. <br />In the case of a disposition as part of a <br />separation or divorce settlement, the <br />disposition will not be considered to be for less <br />than fair market value if the applicant or tenant <br />receives important consideration not <br />measurable in dollar terms. <br />(4) For purposes of determining annual income <br />under Sec. 5.609, the term "net family assets" <br />does not include the value of a home currently <br />being purchased with assistance under part <br />982, subpart M of this title. This exclusion is <br />limited to the first 10 years after the purchase <br />date of the home. <br />2/25/13 Page 6-42 <br />