---
kind: "section"
citation: "12 C.F.R. § 617.7600"
title: "12"
number: "617.7600"
heading: "What are the definitions used in this subpart?"
url: "https://uscodex.org/cfr/12/617.7600"
---

# §617.7600. What are the definitions used in this subpart?


In addition to the definitions in [§ 617.7000](/cfr/12/617.7000.md), the following definitions apply to this subpart.

Acquired 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.

Previous owner means:

- (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
- (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.

  System institution means a Farm Credit System institution, except a bank for cooperatives, which makes loans as defined in [§ 617.7000](/cfr/12/617.7000.md).


## Notes

### Authority

Authority: Secs. 4.13, 4.13A, 4.13B, 4.14, 4.14A, 4.14C, 4.14D, 4.14E, 4.36, 5.9, 5.17 of the Farm Credit Act (12 U.S.C. 2199, 2200, 2201, 2202, 2202a, 2202c, 2202d, 2202e, 2219a, 2243, 2252).

### Source

Source: 69 FR 10907, 10908, Mar. 9, 2004, unless otherwise noted.