"New York Bankruptcy Chapter 12 Family Farmer Definition"

11 U.S.C. 101(18) defines an individual family farmer as a person, and spouse if any, engaged in a farming operation whose aggregate debts do not exceed $1,500,000 and not less than 80 percent of whose aggregate noncontingent, liquidated debts (excluding a debt for the principal residence of such individual or such individual and spouse unless such debt arises out of a farming operation), on the date New York bankruptcy is filed, arise out of a farming operation owned or operated by such individual or such individual and spouse, and such individual or such individual and spouse receive from such farming operation more than 50 percent of such individual's or such individual and spouse's gross income for the taxable year preceding the taxable year in which the New York bankruptcy concerning such individual or such individual and spouse was filed.

Bankruptcy terminology tends to highly technical, complex, and somewhat confusing to general practioners. For consumer debtors filing for the first time, the terms and phrases can be daunting. The most accurate means of resolving questions of law necessarily relies upon the advice and counsel of local lawyers and law firms who are familiar with customs within the Division and District in which they practice. Attorneys who regularly practice before federal courts must be licensed not only by the New York State Bar, but also by the Federal Court for each Division. This additional license requires familiarity with local rules and the recommendation of other attorneys who previously received federal approval. Also be aware, federal employees are prohibited to provide parties in interest what may be deemed as legal advice.

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