7 CFR § 769.153

7 CFR · Agriculture

§ 769.153 — Eligibility requirements of the ultimate recipient.

7 CFR § 769.153

TitleTitle 7: Agriculture PartPart 769: Farm Loan Programs Relending Programs

SourceeCFR (current through Apr 9, 2026)

This text of 7 C.F.R. § 769.153 (Eligibility requirements of the ultimate recipient.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

7 C.F.R. § 769.153 (2026).

Text

§ 769.153 Eligibility requirements of the ultimate recipient.

(a)The eligibility requirements for the ultimate recipient are:

(1)Ultimate recipients must be individuals or legal entities, with authority to incur the debt and to resolve ownership and succession of a farm owned by multiple owners;

(2)Individual ultimate recipients or members of entity ultimate recipients must be a family member or heir-at-law related by blood or marriage to the previous owner of the real property; and

(3)The ultimate recipient must agree to complete a succession plan.

(b)The intermediary will determine the eligibility of the applicant to become the ultimate recipient in accordance with the rules provided in this subpart and in accordance with the intermediary's relending plan as approved by the Agen

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§ 769.153 Eligibility requirements of the ultimate recipient.

(a) The eligibility requirements for the ultimate recipient are:

(1) Ultimate recipients must be individuals or legal entities, with authority to incur the debt and to resolve ownership and succession of a farm owned by multiple owners;

(2) Individual ultimate recipients or members of entity ultimate recipients must be a family member or heir-at-law related by blood or marriage to the previous owner of the real property; and

(3) The ultimate recipient must agree to complete a succession plan.

(b) The intermediary will determine the eligibility of the applicant to become the ultimate recipient in accordance with the rules provided in this subpart and in accordance with the intermediary's relending plan as approved by the Agency in the HPRP loan agreement.