The Social Security Administration (SSA) form SSA-8060-U3, titled "Agreement to Sell Property," serves as a crucial document for individuals whose resources exceed the allowable limit to qualify for payments under Title XVI of the Social Security Act. This form is designed for those who need to sell their excess resources to meet eligibility criteria for Social Security benefits. It requires detailed information on the resources to be sold, including a description, the current market value, names of owners, and the estimated net proceeds from the sale. Owners must agree to sell these resources within specified time frames—9 months for real property and 3 months for all other property types—after the SSA approves the agreement. The form underscores the commitment of the individuals to actively pursue the sale and to notify the SSA within 5 working days upon completing the sale. It also holds individuals accountable to repay any payments received that would not have been made if the resources had been sold immediately upon applying for benefits. This agreement emphasizes the significance of selling the property at its current market value and outlines the implications of failing to adhere to its terms, including the necessity to refund all payments made should the terms not be fulfilled. Moreover, the form serves as a declaration that all provided information is accurate, under penalty of perjury, indicating the importance the SSA places on integrity and accurate reporting in managing eligibility for benefits.
| Question | Answer |
|---|---|
| Form Name | Form Ssa 8060 U3 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | property agreement market, ssa sell property, social form agreement, security social property |