HR 4266 · 99th Congress · Agriculture and Food

A bill entitled "Farm Foreclosure Relief Act".

Introduced 1986-02-27· Sponsored by Rep. Alexander, Bill [D-AR-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Conservation Credit and Rural Development.(1986-03-03)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Consolidated Farm and Rural Development Act to exempt from foreclosure an obligor's principal residence and acreage and up to $7,500 of personal property. Permits an individual to waive such exemption. Authorizes the Secretary of Agriculture, in lieu of such exemption, to sell the residence (under conditions set forth by this Act) and exempt the first $50,000 of the sale's proceeds.…

Summarized by Claude AI · Non-partisan · For informational purposes only