Terms Used In Iowa Code > Chapter 10 - Agricultural Landholding Restrictions

• Actively engaged in farming: means that a natural person, including a shareholder or an officer, director, or employee of a corporation, or a member or manager of a limited liability company, does any of the following:
   a. See Iowa Code 10.1
• Agricultural land: means the same as defined in section 9H. See Iowa Code 10.1
• Authorized entity: means an authorized farm corporation; authorized limited liability company; limited partnership, other than a family farm limited partnership; or an authorized trust as defined in section 9H. See Iowa Code 10.1
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Bequest: Property gifted by will.
• Commodity share landlord: means a natural person or a general partnership as provided in chapter 486A in which all partners are natural persons, who owns at least one hundred fifty acres of agricultural land, if the owner receives rent on a commodity share basis, which may be either a share of the crops or livestock produced on the land. See Iowa Code 10.1
• Contract: A legal written agreement that becomes binding when signed.
• Cooperative association: means an entity which is structured and operated on a cooperative basis pursuant to 26 U. See Iowa Code 10.1
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Decedent: A deceased person.
• Devise: To gift property by will.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Family farm entity: means a family farm corporation, family farm limited liability company, family farm limited partnership, or family trust, as defined in section 9H. See Iowa Code 10.1
• Farm estate: means the real and personal property of a decedent, a ward, or a trust as provided in chapters 633 and 633A, if at least sixty percent of the gross receipts from the estate comes from farming. See Iowa Code 10.1
• Farmers cooperative association: means a cooperative association organized under chapter 490 or 499, if all of the following conditions are satisfied:
   a. See Iowa Code 10.1
• Farmers cooperative limited liability company: means a limited liability company organized under chapter 489, if cooperative associations hold one hundred percent of all membership interests in the limited liability company. See Iowa Code 10.1
• Farmers entity: means a networking farmers entity, farmers cooperative limited liability company, or farmers cooperative association. See Iowa Code 10.1
• Farming: means the same as defined in section 9H. See Iowa Code 10.1
• following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Grain: means the same as defined in section 203. See Iowa Code 10.1
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• issued shares: includes but is not limited to common stock or preferred stock, or each class of common stock or preferred stock, regardless of voting rights or a right to receive dividends or earning distributions. See Iowa Code 10.1
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lineal descendant: Direct descendant of the same ancestors.
• Livestock: means an animal belonging to the bovine, caprine, equine, ovine, or porcine species, ostriches, rheas, emus, farm deer as defined in section 170. See Iowa Code 10.1
• Networking farmers corporation: means a corporation, other than a family farm corporation as defined in section 9H. See Iowa Code 10.1
• Networking farmers limited liability company: means a limited liability company, other than a family farm limited liability company as defined in section 9H. See Iowa Code 10.1
• Operation of law: means a transfer by inheritance, devise, or bequest, court order, dissolution decree, order in bankruptcy, insolvency, replevin, foreclosure, execution sale, the execution of a judgment, the foreclosure of a real estate mortgage, the forfeiture of a real estate contract, or a transfer resulting from a decree for specific performance. See Iowa Code 10.1
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
• Qualified commodity share landlord: means a commodity share landlord, if the owner of the agricultural land was actively engaged in farming the land or a family member of the owner is or was actively engaged in farming the land, if the family member is related to the owner as a spouse, parent, grandparent, lineal ascendant of a grandparent or spouse, or other lineal descendant of a grandparent or spouse. See Iowa Code 10.1
• Qualified farmer: means any of the following:
   a. See Iowa Code 10.1
• Qualified person: means a person who is any of the following:
   a. See Iowa Code 10.1
• Regional cooperative association: means a cooperative association other than a farmers cooperative association. See Iowa Code 10.1
• state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
• year: means twelve consecutive months. See Iowa Code 4.1