Farmers' Legal Action Group Announces Shared Appreciation Agreement Web Page
Farm Business Management Update, October-November 2002
Via L. Leon Geyer
ST. PAUL, MINN. -- Farmers' Legal Action Group, Inc. (FLAG) announces the creation of a Shared Appreciation Agreement (SAA) information resources web page to assist farmers with questions about this USDA program. As of late 1988, whenever a farm loan borrower receives a write-down of debt owed to the Farmers Home Administration (FmHA)--now the Farm Service Agency (FSA)--the borrower must sign an SAA. An SAA is a contract between FmHA/FSA and the borrower in which the borrower promises to pay a certain amount of money in the future if the property securing the agreement increases in value, allowing FmHA/FSA to "recapture" all or a portion of the write-down amount.
The web page is intended to provide current and background information on SAAs, including federal laws, regulations, and notices; SAA case decisions; FLAG informational memos and fact sheets; and other informational resources. Please note that the SAA information is not intended to provide specific legal advice. Each borrower should carefully look at his or her own SAA agreement for specific requirements and should seek individual assistance for any problems or questions.
The SAA Information Resource web page site can be found at http://www.flaginc.org/saa/saa.htm.
FLAG is a nonprofit law center in St. Paul, Minnesota dedicated to providing legal services to family farmers and their rural communities in order to help keep family farmers on the land.
FLAG Contact: David Moeller - (651) 223-5400 or firstname.lastname@example.org
Visit Virginia Cooperative Extension