{"data":{"id":"us/12-cfr-617.7600","jurisdiction":"us","citation":"12 CFR 617.7600","heading":"What are the definitions used in this subpart?","body":"In addition to the definitions in § 617.7000, the following definitions apply to this subpart.\nAcquired agricultural real estate or property means agricultural real estate acquired by a System institution as a result of a loan foreclosure or a voluntary conveyance by a borrower who, as determined by the institution, does not have the financial resources to avoid foreclosure.\nPrevious owner means:\n(1) The prior record owner who was a borrower from a System institution and did not have the financial resources, as determined by the institution, to avoid foreclosure on acquired agricultural real estate; or\n(2) The prior record owner who is not a borrower and whose acquired agricultural real estate was used as collateral for a loan to a System borrower.\nSystem institution means a Farm Credit System institution, except a bank for cooperatives, which makes loans as defined in § 617.7000.","path":["Title 12—Banks and Banking","CHAPTER VI—FARM CREDIT ADMINISTRATION","SUBCHAPTER B—FARM CREDIT SYSTEM","PART 617—BORROWER RIGHTS","Subpart G—Right of First Refusal"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"721133465ec146a43432dcedc0721560e596dbef451fd8c5da56e861cd527994","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-617.7525","next":"us/12-cfr-617.7605"},"notice":"GroundRules: Original legal text. Not legal advice."}