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Who Gets The Check: Determining When Federal Farm Program Payments Are Property Of The Bankruptcy Estate, Susan A. Schneider
Who Gets The Check: Determining When Federal Farm Program Payments Are Property Of The Bankruptcy Estate, Susan A. Schneider
Susan Schneider
This article discusses a unique area of law that is of great importance to rural America - agricultural payments made pursuant to the various federal farm programs. In recent years, these payments have grown to become a significant component of net farm income that is capitalized into the value of agricultural real estate, provided as collateral for agricultural loans, and justified as support to the overall rural economy. When an agricultural producer experiences financial distress and files for relief in bankruptcy, rights to these payments are often vigorously contested. In particular, the question of when the payments are property of …