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#2146993 - 09/21/17 03:04 PM farmland
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
Would the purchase of land for farming/cattle grazing purposes be considered a TRID loan and need LE/CD disclosures?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2146999 - 09/21/17 03:16 PM Re: farmland mdog76
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,281
It appears to be an agricultural loan exempt from Regulation Z - thus, no TRID.
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#2147039 - 09/21/17 04:30 PM Re: farmland mdog76
Compliance NABW Offline
Diamond Poster
Joined: Oct 2015
Posts: 1,616
Agree. The exemption for Agricultural purpose includes a variety of uses -

AGRICULTURAL PURPOSE.
An agricultural purpose includes the planting, propagating, nurturing, harvesting, catching, storing, exhibiting, marketing, transporting, processing, or manufacturing of food, beverages (including alcoholic beverages), flowers, trees, livestock, poultry, bees, wildlife, fish, or shellfish by a natural person engaged in farming, fishing, or growing crops, flowers, trees, livestock, poultry, bees, or wildlife. The exemption also applies to a transaction involving real property that includes a dwelling (for example, the purchase of a farm with a homestead) if the transaction is primarily for agricultural purposes.

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