Using house as asset AOS

[Hannah711 11]

My husband and I own a house together with a relative of mine. If I want to use my house as part of an asset of ours for AOS are we only allowed to use a certain portion of it or can we use the entire home?

[Hilde 381]

2 hours ago, Hannah711 said:

My husband and I own a house together with a relative of mine. If I want to use my house as part of an asset of ours for AOS are we only allowed to use a certain portion of it or can we use the entire home?

Financial sponsors can only include assets that are convertible into cash within one year and without considerable hardship or financial loss to the sponsor and his/her family. Examples of assets easily convertible to cash are savings, stocks, bonds and property. Sponsors may include the value of their home. They may not include the value of their automobile, unless they can show they have more than one and the primary automobile is not included as an asset.

 

Source: https://travel.state.gov/content/travel/en/us-visas/immigrate/the-immigrant-visa-process/step-1-submit-a-petition/i-864-affidavit-faqs.html

[Villanelle 4,121]

There is no easy answer for your question. The 864 is subject to the Officers discretion. The numbers in question matter. What does the rest of the 864 look like? Do you have any income at all? Are you attempting to make up the difference in lacking income with assets or only use assets? 

 

For example- I am a retired lottery winner (Im not). I dont work but I have a bank account with half a million dollars and own a home with no mortgage worth 2 million dollars. The home is in both my mother and my name. I should be fine for approval. Vs- I am unemployed because I either live overseas so my employment there wont count or I am a stay at home spouse. I have less then 10k in my savings account. I own a home with my mother and we have a mortgage on it so there is only 50k in equity. I would then have to convince the Officer the 50k is in fact an accurate equity amount and that all of it is mine or available for me to use if needed. Thats much harder to establish.

 

If you can provide a more comprehensive view of the numbers you can get opinions on how successful you will be- but no one here can tell you 100% if it will be approved or not. People have been approved using homes (even their primary residence) with varying amounts of evidence - but just as many have been rejected with similar if not additional evidences. 

[Hannah711 11]

3 hours ago, Villanelle said:

There is no easy answer for your question. The 864 is subject to the Officers discretion. The numbers in question matter. What does the rest of the 864 look like? Do you have any income at all? Are you attempting to make up the difference in lacking income with assets or only use assets? 

 

For example- I am a retired lottery winner (Im not). I dont work but I have a bank account with half a million dollars and own a home with no mortgage worth 2 million dollars. The home is in both my mother and my name. I should be fine for approval. Vs- I am unemployed because I either live overseas so my employment there wont count or I am a stay at home spouse. I have less then 10k in my savings account. I own a home with my mother and we have a mortgage on it so there is only 50k in equity. I would then have to convince the Officer the 50k is in fact an accurate equity amount and that all of it is mine or available for me to use if needed. Thats much harder to establish.

 

If you can provide a more comprehensive view of the numbers you can get opinions on how successful you will be- but no one here can tell you 100% if it will be approved or not. People have been approved using homes (even their primary residence) with varying amounts of evidence - but just as many have been rejected with similar if not additional evidences. 

I make just enough to sponsor him but i wanted to use our house as an asset as additional evidence just in case. 

[aaron2020 11,651]

26 minutes ago, Hannah711 said:

I make just enough to sponsor him but i wanted to use our house as an asset as additional evidence just in case. 

You are unlikely to be able to use your house as a countable asset for the I-864 since it's your primary residence.  Having to sell your primary residence to meet your I-864 obligations is considered an undue hardship and that's is why your primary residence is disallowed as an I-864 asset.  

[Family One 47]

On 3/26/2021 at 4:12 PM, aaron2020 said:

You are unlikely to be able to use your house as a countable asset for the I-864 since it's your primary residence.  Having to sell your primary residence to meet your I-864 obligations is considered an undue hardship and that's is why your primary residence is disallowed as an I-864 asset.  

Do you know of specific files that have been rejected when the primary residence has been used as an asset in the I-864?  I can understand there would be a problem if the residence was in the US, but a foreign residence (in this case, Canada) which will be sold when we immigrate to US is not much different than cash.  Our primary  residence could be sold tomorrow, and we would have way more than the minimum 3x the requirement.  Surely we don't need a joint sponsor, even if we report no income.

[Joe Kano 327]

On 3/26/2021 at 3:12 PM, aaron2020 said:

You are unlikely to be able to use your house as a countable asset for the I-864 since it's your primary residence.  Having to sell your primary residence to meet your I-864 obligations is considered an undue hardship and that's is why your primary residence is disallowed as an I-864 asset.  

I used my house and vehicles for AOS