Page:United States Statutes at Large Volume 116 Part 1.djvu/275

 PUBLIC LAW 107-171—MAY 13, 2002 116 STAT. 249 "SEC. 1235. CONTRACTS. 16 USC 3835. "(a) OWNERSHIP OR OPERATION REQUIREMENTS. — "(1) IN GENERAL. — Except as provided in paragraph (2), no contract shall be entered into under this subchapter concerning land with respect to which the ownership has changed in the 1-year period preceding the first year of the contract period unless— "(A) the new ownership was acquired by will or succession as a result of the death of the previous owner; "(B) the new ownership was acquired before January 1, 1985; "(C) the Secretary determines that the land was acquired under circumstances that give adequate assurance that the land was not acquired for the purpose of placing the land in the program established by this subchapter; or "(D) the ownership change occurred due to foreclosure on the land and the owner of the land immediately before the foreclosure exercises a right of redemption from the mortgage holder in accordance with State law. "(2) EXCEPTIONS. —Paragraph (1) shall not— "(A) prohibit the continuation of an agreement by a new owner after an agreement has been entered into under this subchapter; or "(B) require a person to own the land as a condition of eligibility for entering into the contract if the person— "(i) has operated the land to be covered by a contract under this section for at least 1 year preceding the date of the contract or since January 1, 1985, whichever is later; and "(ii) controls the land for the contract period. "(b) SALES OR TRANSFERS.—I f, during the term of a contract entered into under this subchapter, an owner or operator of land subject to the contract sells or otherwise transfers the ownership or right of occupancy of the land, the new owner or operator of the land may— "(1) continue the contract under the same terms or conditions; "(2) enter into a new contract in accordance with this subchapter; or "(3) elect not to participate in the program established by this subchapter. "(c) MODIFICATIONS.— "(1) IN GENERAL. — The Secretary may modify a contract entered into with an owner or operator under this subchapter if— "(A) the owner or operator agrees to the modification; and "(B) the Secretary determines that the modification is desirable— "(i) to carry out this subchapter; "(ii) to facilitate the practical administration of this subchapter; or "(iii) to achieve such other goals as the Secretary determines are appropriate, consistent with this subchapter.

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