(1) Definitions for the purposes of conditional medical assistance include:

(a) "Nonliquid resource" is personal property which is not cash and which cannot be converted to cash within 20 workdays.

(b) "Liquid resource" is property which is cash or can be converted to cash within 20 workdays.

(c) "Net proceeds" is the current market value of the resource less sale costs and encumbrances.