Abandoned Security Property [Agriculture] Law and Legal Definition

According to 7 CFR 761.2 [Title 7 – Agriculture, Subtitle B - Regulations of the Department of Agriculture, Chapter VII - Farm Service Agency, Department of Agriculture, Subchapter D - Special Programs, Part 761 - General Program Administration, Subpart A - General Provisions], abandoned security property is “security property that a borrower is not occupying, is not in possession of, or has relinquished control of and has not made arrangements for its care or sale.”