
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, April 4, 1991                   TAG: 9104040474
SECTION: VIRGINIA                    PAGE: B-2   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

FOREIGNERS REQUIRED TO REPORT LAND SALES

Foreigners who buy or sell farm land must report the transaction within 90 days to the local Agricultural Stabilization and Conservation Service office.

The Agricultural Foreign Investment Disclosure Act requires all foreign owners of U.S. farm land to report their holdings, acquisitions, sales and leases of 10 years or more. Those who fail to report or who are late in reporting can be fined.

Farm land is defined in the law as any land of more than 10 acres used for farming, ranching or forestry. Foreigners who own 10 acres or less do not need to report unless the sale of products grown on the land exceeds $1,000.

At the beginning of last year, 12.9 million acres of U.S. farmland was in foreign hands, including 113,583 in Virginia.

The Roanoke County ASCS office is at 425 Apperson Drive in Salem.

by CNB