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LSDefine

Simple English definitions for legal terms

agricultural lien

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A quick definition of agricultural lien:

An agricultural lien is a special kind of loan that farmers can get to help them grow crops or raise animals. When a farmer takes out this loan, they have to put something valuable, like their farm equipment or livestock, up as collateral. This means that if the farmer can't pay back the loan, the lender can take possession of the collateral. Every state has a law that automatically creates an agricultural lien when a farmer takes out this kind of loan. These loans are really important for farmers because they help them keep their farms running and produce food for everyone.

A more thorough explanation:

An agricultural lien is a type of lien that is placed on farm products such as livestock or farm equipment. This lien is used to secure payment or performance in exchange for a loan of land, goods, or money. These loans are important for farmers as they allow them to produce the next season of crops or raise the next season of livestock.

If a farmer is unable to repay the loan, the creditor can take possession of the farmer's farm products. This is possible due to the agricultural lien that was placed on the property when the loan was taken out.

For example, if a farmer takes out a loan to purchase new equipment for their farm, the creditor may place an agricultural lien on the equipment. If the farmer is unable to repay the loan, the creditor can take possession of the equipment to recoup their losses.

It is important to note that every state has its own statute regarding agricultural liens. These statutes automatically create an agricultural lien on the property of the farmer when they take out a loan under the circumstances provided by that individual statute.

agreement | agriculture

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eggan
14:48
H i personally think you have great stats its just too late in the cycle to be applying places. if you dont get in anywhere you should consider R&R
eggan
14:49
bc at those stats you should have gotten into UGA and FSU
OrangeThing
14:58
Just deposited at UT Law
OrangeThing
14:59
It's been fun. Met a lot of great people here, most of whom I don't speak to anymore after the dox. No hard feelings to them really. Everyone else, good luck with the rest of the cycle
ParallelAgreeableOrangutan
15:01
@hcarralero2005: UGA was a mess this cycle. It's not you, it's them
15:02
i'm wondering if i should do a seat deposit at hofstra- i'm waiting on 10 plus schools still
15:06
when's it due
15:06
4/15
15:07
shit it's a pretty good chunk of money I'd def deposit but not till the day before
Fo tee five minutes till Fo pm
15:34
it's conditional tho unfortunately
15:35
hell nah what are the condiitions
MrThickRopes
15:50
WAVES TN?
MrThickRopes
15:50
WAVES FO PM?
none, they hate us
MrThickRopes
15:59
fucks
MrThickRopes
15:59
I need al a bama
CheeseIsMyLoveLanguage
16:01
Is anyone else feeling weighed down by the idea of taking on debt or making a big move while the economy is so uncertain?
MrThickRopes
16:03
bro think ima pay off my loans
16:04
mf you better collections is no joke
CheeseIsMyLoveLanguage
16:05
I guess there's always that route! 😂
[] c0bra1
16:14
damn my wake forest withdrawal didnt help the wl ppl 💀
MrThickRopes
16:15
what they gon collect frum me
MrThickRopes
16:15
nothin
Fuck fo pm
MrThickRopes
16:24
thas right
BlueFalcon95
16:25
Das right
hey, just so u all know - i just farted
i luv u all and will be seeing u all shortly
17:02
I floated marquettes deadline hopefully someone on the WL is thankful
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