{"data":{"id":"us/7-cfr-772.7","jurisdiction":"us","citation":"7 CFR 772.7","heading":"Leasing minor program loan security.","body":"(a) Eligibility. The Agency may consent to the borrower leasing all or a portion of security property for Minor Program loans to a third party when:\n(1) Leasing is the only feasible way to continue to operate the enterprise and is a customary practice;\n(2) The lease will not interfere with the purpose for which the loan was made;\n(3) The borrower retains ultimate responsibility for the operation, maintenance and management of the facility or service for its continued availability and use at reasonable rates and terms;\n(4) The lease prohibits amendments to the lease or subleasing arrangements without prior written approval from the Agency;\n(5) The lease terms provide that the Agency is a lienholder on the subject property and, as such, the lease is subordinate to the rights and claims of the Agency as lienholder; and\n(6) The lease is for less than 3 years and does not constitute a lease/purchase arrangement, unless the transfer and assumption provisions of this subpart are met.\n(b) Application. The borrower must submit a written request for Agency consent to lease the property.","path":["Title 7—Agriculture","Subtitle B—Regulations of the Department of Agriculture","CHAPTER VII—FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE","SUBCHAPTER D—SPECIAL PROGRAMS","PART 772—SERVICING MINOR PROGRAM LOANS"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-7.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:01Z","sha256":"5a984ca8bf19479124ea6a969ad4538a5e2c71940ba5829f4c0b1fa5b1d93cc2","source_id":"us-cfr","stale":true,"prev":"us/7-cfr-772.6","next":"us/7-cfr-772.8"},"notice":"GroundRules: Original legal text. Not legal advice."}