Relative's 529, and real estate question

Paying for College
1

I have two questions related to financial aid.

  1. A relative set up a 529 with my child as the beneficiary. I wasn’t really aware of this when we filled out the financial aid applications. I understand grandparents/relatives 529s are not accounted for on the FAFSA, but they are on the CSS – so do i need to address this in next year’s CSS? (My student will be entering this fall).

  2. Should we ask the relative to wait until mid Oct 2023 to distribute the 529, or does it not matter? I don’t want to impact my child’s financial aid in subsequent years.

  3. Question 89 on the FAFSA includes parents’ 529s and real estate. The real estate value is the value minus the debt. How do we get the value of the property – the market value ie what it would sell for?