Reasonable and necessary living expenses definition

Reasonable and necessary living expenses means not less than
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Reasonable and necessary living expenses means not less than the average utility costs over the last twelve months, or if that figure is unavailable $200, and transportation, food, clothing, and other expenses equal to an amount not less than the Collection Financial Standards set forth by the Internal Revenue Service for transportation, food, clothing, and other items and out-of-pocket health care costs. “Residual income” means an owner’s net income available to meet living expenses after the payment of all ordinary and necessary debt, including payments under an option to purchase back the owner’s property transferred in a distressed
Sample 1
Reasonable and necessary living expenses means not less than the average utility costs over the last 12 months, or if that figure is unavailable, $200.00, and transportation, food, clothing, and other expenses equal to an amount not less than the Collection Financial Standards set forth by the Internal Revenue Service for transportation, food, clothing, and other items and out-of-pocket health care costs.
Sample 1

Examples of Reasonable and necessary living expenses in a sentence

  • Reasonable and necessary living expenses incurred.The expenses enumerated in paragraph 2 above can only be advanced to a client under dire and necessitous circumstances, and shall be limited to minimal living expenses of minor sums such as those necessary to prevent foreclosure or repossession or for necessary medical treatment.

  • Reasonable and necessary living expenses do not include:Low (1) Any expenses met by a birth mother’s existing resources;Low (2) Any expenses supporting other family members, with the exception of the birth mother’s minor children who are living with her;Low (3) Any expenses for recreational and leisure activities; orLow (4) The purchase of an automobile.

  • Reasonable and necessary living expenses for the debtor and the debtor’sdependents.280702.

Related to Reasonable and necessary living expenses

  • Reasonable cost means a cost for a service or item that is consistent with the market standards for comparable services or items.

  • Medical Expenses means those expenses that an Insured Person has necessarily and actually incurred for medical treatment on account of Illness or Accident on the advice of a Medical Practitioner, as long as these are no more than would have been payable if the Insured Person had not been insured and no more than other hospitals or doctors in the same locality would have charged for the same medical treatment.

  • Reasonable and prudent parent standard means the

  • Developed exclusively at private expense means development was accomplished entirely with costs charged to indirect cost pools, costs not allocated to a government contract, or any combination thereof.

  • Minimum Necessary means the least amount of PHI necessary to accomplish the purpose for which the PHI is needed.

  • Development Expenses means, with respect to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.), usual and customary operating and financial costs, such as the compliance monitoring fee, the financial monitoring fee, replacement reserves, the servicing fee and the debt service reserves. As it relates to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.) and to the application of Development Cash Flow described in subsections 67-48.010(5) and (6), F.A.C., as it relates to SAIL Developments or in paragraph 67-48.020(3)(b), F.A.C., as it relates to HOME Developments, the term includes only those expenses disclosed in the operating pro forma on an annual basis included in the final credit underwriting report, as approved by the Board, and maximum of 20 percent Developer Fee per year.