Inventory 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], inventory property is β€œreal estate or chattel property and related rights that formerly secured an FLP loan and to which the Federal Government has acquired title.”