; or (ii) the institution has specific conflicting information about the student’s independence. (c) Adjustments to assets or income taken into account A financial aid administrator shall be considered to be making a necessary adjustment in accordance with subsection (a) if— (1) the administrator makes adjustments excluding from family income or assets any proceeds or losses from a sale of farm or business assets of a family if such sale results from a voluntary or involuntary foreclosure, forfeiture, or bankruptcy or a voluntary or involuntary liquidation