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Financing farm products: How secure is your collateral?

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  • Garth, Natalie

Abstract

Under the Food Security Act of 1985 (7 USC Section 1631), a person buying farm products from a person engaged in farming operations takes free of a perfected security interest unless the lender complies with the notice provisions of the act as well as takes steps to perfect security interests under the UCC. If the lender does not take appropriate steps to comply with the Act, the lender's security interest transfers only to identifiable proceeds in the hands of the debtor, and the buyer takes the farm products free of the lender's lien.

Suggested Citation

  • Garth, Natalie, 2002. "Financing farm products: How secure is your collateral?," American Bankers Association, American Bankers Association > Journal of Agricultural Lending, vol. 15(4).
    • Handle: RePEc:ags:abajal:336641
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    File URL: https://ageconsearch.umn.edu/record/336641/files/ers2022-23-0599.pdf
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