§ 763.6 Limitations.
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
(a) To qualify for a guarantee, the purchase price of the farm to be acquired through the land contract sale cannot exceed the lesser of:
(1) $500,000 or
(2) The current market value of the property.
(b) A guarantee will not be issued if the appraised value of the farm is greater than $500,000.
(c) Existing land contracts are not eligible for the Land Contract Guarantee Program.
(d) Guarantees may not be used to establish or support a non-eligible enterprise.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.