Homestead Protection [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], homestead protection is β€œthe previous owner's right to lease with an option to purchase the principal residence and up to 10 acres of adjoining land which secured an FLP direct loan.”