Who Gets The Money From The Sale Of My House, Social Security Or Me?

Jul 25 2019 - 5:48pm

I own my home and have been receiving monthly sis but due to house getting old I moved to low income housing. My house is up for sell and when it sells who gets the money from house, sis or me, Judy?

Hi Judy,

I assume you mean that you are receiving Supplemental Security Income (SSI), which is the needs based program administered by Social Security. In order to qualify for SSI, you can't have resources valued at more than $2000, but a house in which you live is excluded from counting as a resource. If you sell your home and don't use the proceeds to buy a new home, then you won't qualify for SSI unless and until your countable resources fall below $2000. So, although moving out of your house and selling it may cause your SSI benefits to stop, Social Security would have no claim to the proceeds from the sale of your home.

By the way, be sure to notify Social Security about your change in living arrangements and the pending sale of your home. If you continue to receive SSI benefits to which you're not entitled, Social Security will ask you to pay back those benefits.

Best, Jerry