§ 763.6 Limitations.
Current through Jul 29, 2026 · Read all of Part 763
(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.