I am Disabled and own a home on a Lake in NC, I recently received an inheritage?

and I want to buy some investment propertys (Duplex’s or small homes and rent them out. My question is because I receive SS Disabilty, would it be illegal for me to buy anything else?? I have heard some folks say, if you receive anything from the Govrnment, you are not allowed to own more than 1 car and house. Is this True?

Author: donna_honeycutt47
Source: http://answers.yahoo.com/question/?qid=20080529202250AAS75zZ

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Comments

Comment from thewarisovertherainisfalling
Time March 14, 2011 at 6:41 am

Receiving an inheritance may violate your disability. Your question is a little complicated for this forum.

Comment from Ginger
Time March 14, 2011 at 8:57 am

It sounds like you are getting SSDI, not SSI. If you are disabled and have adequate resources you can certainly buy properties and rent them out. With SSI your assets are limited to almost nothing and this would not apply. Checks ssa.gov for more answers.

Comment from BrokerPro
Time March 14, 2011 at 10:14 am

Regular SS disability is not the same thing as SSI- it is not based on income, it is based on physical eligibility and payments to disability insurance over the years. Just like a retiree on SS can inherit money and buy what they want, being on disability is similar, you don’t need to qualify with income to receive that- so enjoy your inheritance and get a good agent in your area to advise you well on your investment purchases.