§ 1400.201 General provisions for determining whether a person or legal entity is actively engaged in farming
§ 1400.202 Persons
§ 1400.203 Joint operations
§ 1400.204 Limited partnerships, limited liability partnerships, limited liability companies, corporations, and other similar legal entities
§ 1400.205 Trusts
§ 1400.206 Estates
§ 1400.207 Landowners
§ 1400.208 Family members
§ 1400.209 Sharecroppers
§ 1400.210 Deceased and incapacitated persons
§ 1400.211 Persons and legal entities not considered to be actively engaged in farming
§ 1400.212 Growers of hybrid seed
§ 1400.213 Military personnel
§ 1400.214 Cash rent tenants

Terms Used In CFR > Title 7 > Chapter XIV > Subchapter A > Part 1400 > Subpart C - Payment Eligibility

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Grantor: The person who establishes a trust and places property into it.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).