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| USDA/FSA | RIN: 0560-AH56 | Publication ID: Fall 2010 |
| Title: Appraisal Requirements for Farm Ownership Loans | |
| Abstract: This proposed amendment will provide that, for a loan that is not a Farm Ownership Loan, evaluation of the rights to any associated oil, gas, and minerals will not be required for the appraisal to be considered adequate. Conversely, any and all oil, gas, and mineral rights attached to any real estate property being offered as security for a Farm Ownership Loan will be required to be evaluated in any real estate appraisal obtained by FSA in connection with the loan decision. Failure to include oil, gas, and minerals in the appraisal for a loan that is not a Farm Ownership Loan will in no way impair the Agency’s ability to obtain our rights associated with a mortgage, deed of trust, or other security interest in such oil, gas, and minerals. | |
| Agency: Department of Agriculture(USDA) | Priority: Substantive, Nonsignificant |
| RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
| Major: No | Unfunded Mandates: No |
| CFR Citation: 7 CFR 1941; 7 CFR 1943; 7 CFR 761 | |
| Legal Authority: 7 USC 1989 | |
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Legal Deadline:
None |
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Timetable:
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| Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
| Small Entities Affected: No | Federalism: No |
| Included in the Regulatory Plan: No | |
| RIN Data Printed in the FR: No | |
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Agency Contact: Deirdre Holder Director, Regulatory Review Group Department of Agriculture Farm Service Agency 1400 Independence Avenue SW, Washington, DC 20250-0572 Phone:202 205-5851 Fax:202 720-5233 Email: deirdre.holder@wdc.usda.gov |
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