(1) A child is not IV-E eligible if the equity value of combined countable resources of all members of the filing unit exceeds $10,000 in the month of eligibility.

(2) After the initial determination of eligibility, the child is not eligible for IV-E benefits as specified in ARM 37.49.102(4) (a) and (b) if the equity value of the child's countable resources exceeds $10,000.

(3) All real and personal property is counted in determining eligibility if any member of the filing unit has the legal right or actual ability to liquidate the property or the member's interest in the property for cash, unless it is a resource specifically excluded in ARM 37.49.502.