§ 617.7600 What are the definitions used in this subpart?
§ 617.7605 How should System institutions document whether the borrower had the financial resources to avoid foreclosure?
§ 617.7610 What should the System institution do when it decides to sell acquired agricultural real estate?
§ 617.7615 What should the System institution do when it decides to lease acquired agricultural real estate?
§ 617.7620 What should the System institution do when it decides to sell acquired agricultural real estate at a public auction?
§ 617.7625 Whom should the System institution notify?
§ 617.7630 Does this Federal requirement affect any state property laws?

Terms Used In CFR > Title 12 > Chapter VI > Subchapter B > Part 617 > Subpart G - Right of First Refusal

  • Bequest: Property gifted by will.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • records: as used in this subpart does not include qualifying documents required under subpart D of this part, or bonds required under subpart F of this part. See 27 CFR 19.577
  • Service of process: The service of writs or summonses to the appropriate party.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.