farmer. A person engaged in the business of farming. family farmer. A person or entity whose income and debts primarily arise from a family-owned and -operated farm; esp., person who received more than 80% of gross income from a farm in the taxable year immediately preceding a Chapter 12 filing. • Only a family farmer […]
Archaic. A person who forfeits all property so that it may be divided among creditors. • For the modern near-equivalent, see CHAPTER7. [Cases: Bankruptcy 2221. C.J.S. Bankruptcy § 45.]
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A person or entity whose income and debts primarily arise from a family-owned and -operated farm; esp., person who received more than 80% of gross income from a farm in the taxable year immediately preceding a Chapter 12 filing. • Only a family farmer can file for Chapter 12 bankruptcy. 11 USCA § 101(18). See