(a) The amount which can be realized from promissory notes, loans, mortgages, and similar instruments, if offered for immediate sale, constitutes a countable resource.  Promissory notes, loans, mortgages, and similar instruments have value regardless of whether there is an actual offer.  Appraisals obtained from bankers, realtors, loan companies and others qualified to make such estimates are obtained in determining current market value.  When a total resource approaches the maximum, it is desirable to get two or more estimates.

(b) Promissory Notes, loans, and mortgages (including contracts for deed) which are income producing are liquid countable resources.

(c) For an individual who has purchased a promissory note, loan, or mortgage on or after February 8, 2006, and is applying for long-term care services, see OAC 317:35-5-41.8(b).