TABLE 9--FOREIGN OWNERSHIP OF U.S. AGRICULTURAL LANDHOLDINGS BY U.S. REGION,
DECEMBER 31, 1987--CONTINUED
(NUMBER)
SOUTH west NORTHEAST NORTH CENTRAL
COUNTRY |
parcets | acres | parcets | acres | Parcets | acres | PARCELS | ACRES
URUGUAY 2 3,095 2 320 1 127 5 9,498
U.S.S.R. ° ° 1 80 3 755 ° °
VENEZUELA 142) 17,877 1 837 32 6.548 3 2,316
VIETNAM 1 152 ° ° ° ° ° °
YUGOSLAVIA 1 863 1 1 ° ° 4 160
MULTIPLE ©. 35 6,469 18 13,573 3 1,802 1 208
THIRD TIER + 480) 142,834 9 56,555 ° ° 3 940
SUBTOTAL 4, 3,886| 1,889, 155 2,985 1,633,883 1,955 1,178,665 1,072 ° 450, 192
US/ANDORRA | ° 1 3.741 ° ° ° °
US/ARGENTINA 2 580 ° ° ° ° 2 3,860
US/AUSTRALIA 2 479, 1 37 2 125 3 642
US/AUSTRIA 6 1,863 3 13,710 i 12 “0 .
US/BAHAMAS . : 13|- 25,787 14 -36,876 3 4,257 4 3,274
US/BARBADOS 9) ° 2 415 ° ° ° O°
US/BELGIUM 27/ 24,906 4° 35,397 2 26 ry 388
US/BERMUDA . 43) 28.329 6 7;998 3 1,915 3 430
US/BRAZIL ; a V7I7 ° ° ° 13 2,382
US/BRITISH VIRGIN : . ne
TSLANDS 4 1,897 3 528 4 . 7 8iea4
US/CANADA 4g4| 334,955 323 236,809 82 147, 6b2 112° 3281330
US/CAYMAN ' TSLANDS 747 9,262 1 11341 1 280 1 70
US/CHINA . ° C 1 322 ° ° ° °
Us/COLOMBIA 5| 4,750 ° ° 1 160 ° °
US/DENMARK 3 598 3 846 ° 3 ° °
US/ECUADOR 2 1,549 ° ° ° ° ° °
US/EGYPT’ 5| 1,548 2 130 ° 0 ° °
US/EL_ SALVADOR, 1 12 ° ° ° ° 0 °
US/F INLAND 1" 9.047 ° ° ° ,0 ° °
US/FRANCE 169] 1601244 36 8.275 24 192,289 125 18,100
US/GERMANY (WEST) 227; 144,340 31 228,158 47131532 ag 47,722
US/GREECE 1 2 4.957 ° ° 2 244
US/GUATEMALA 3| ° ° ° ° ° °
US/GUYANA 2| ° 0 ° cy ° a)
US/HONG KONG 5 4 1.011 ° ° ° o
US/TRAN.. 5 4 1012 1 4,900 ° °
US/TRAQ 6 2 960 ° ° ° °
US/TRELAND 6 ° _ 8 3° 6 ° °
US/ITALY 5 2 4,428 4 675 2 391
US/JAPAN ae! a 13,939 5 1,978 a 3.900
US/KOREA: (SOUTH) 9° ) 75 ° ° ° °
US/KUWAIT 8 4 6.066 1 772 3 2a6
US/LEBANON 4 o 6 2 153 3 °
US/LIBERIA 9} 3 47,973 7 6,852 ° °
US/LIBYAN ARAB REPUBLIC ° 3 __ 280 ° ° ° 0
US/LIECHTENSTEIN 34) 45 385173 9 4,735 10 7,462
US/LUXEMBOURG 11] 14 108,408 1 94 4 ~"784
US/MALAYSIA 3° i 300 ° o Q °
US/MEXICO is) 13 72,280 ° ° 9 °
US/NETHERLANDS 145) 195 275,022 19 6.078 266
US/NETHERLANDS ANTILLES 133 49 32,585 5 +380 a9
US/NEW HEBRIDES 4] 4 883 ° ° °
US/NEW ZEALAND. 2 ° ° ° ° 9°
US/NICARAGUA 2 ° ° ° ° ®
US/NORWAY a o ° 2 472 6
US/PANAMA 48 ia 31,584 12 4.868 12
US/PHILIPPINES 2 2 223 ° ° o
US/PORTUGAL 2 °. ° ° ° °
US/SAUDI ARABIA 39, ° 0 ry ° 9
US/SOUTH AFRICA 2) 1 1.452 ° ° ° °
US/SPAIN 3, 9 2.021 2 1,548 ° x
US/SWEDEN . 14 x) ° 1 .. 197 5 912
US/SWITZERLAND 163) St 54,002 25 «39,872 4B 17,726
US/TAIWAN 4| at ° ° 1 9.224
US/THATLAND | co) 3 ° ° ° °
US/TRINIDAD & TOBAGO 7 ° ° ° ° 2:0
US/TURKEY 2! 4 ° ° ° ° °
US/UNITED ARAB EMIRATES 4 4.012 0 ° ° © °
US/UNITED KINGDOM 273. 962,809 149 81 1,020,491 169 97, 152
US/URUGUAY 4| 878 ° ° ° i 40
US/VENEZUELA 45, 36,032 1 6 $48 ° °
US/MULTIPLE 26 10.118 5 4° 17,706 17 142,583
US/THIRD TIER 113, 288,235 8 ° ° 3 1,008
SUBTOTAL 2/ 2.197) 2,583,048 1,128. 2:674,454 360 1,207,087 B25. 718;488
TOTAL ALL .
LANDHOLDINGS, 6.083, 4.472, 209 3,514 4,308,937 1.715 2,585,752 1,897 1,168,680

A/ TOTAL INTERESTS EXCLUDING bas. CORPORATIONS. WITH FOREIGN SHAREHOLDERS.

2/ TOTAL INTERESTS OF U.S. CORPORATIONS. WITH FOREIGN SHAREHOLDERS;

16



percent of the acres (table 35). In comparison, individuals accounted for 23
percent of the owners, 13 percent of the parcels, and 2 percent of the acres.

Size of Disposition. The most acreage disposed was for parcels with 1,000 or
more acres, accounting for 93 percent of the acres (table 36). As should be
expected, sales prices per acre were higher for smaller percels, although not
necessarily the smallest parcels. Average selling price of acreage in the. less-
than-20-acre range was $6,318 per acre, compared with $316 per acre for parcels
in the 1,000-or-more-acre range. However, average prices in the 20-59-acre and
60-99-acre ranges were $12,703 and $14,340 per acre, respectively. Average
selling price of all reported dispositions was $555 per acre.

Country of Origin. Foreign persons from Canada not affiliated with a U.S.
corporation disposed of the most acreage--62 percent (table 37).. Most of the
dispositions occurred in the Northeast, 34 percent of the parcels covering 67
percent of the acres (table 38). Foreign persons from Canada not affiliated with
a U.S. corporation disposed of 90 percent of the acres in the region. The South
accounted for an additional 45 percent of the disposed parcels covering 19
percent of the acres. Foreign persons from Tanzania not affiliated with a U.S.
corporation and U.S./Swiss corporations disposed of 56 percent of the acres in
the region.

TABLE 35--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY TYPE OF FOREIGN
OWNER, JANUARY 1 - DECEMBER 31, 1987
(NUMBER )

PARCELS WITH
OWNER OWNERS PARCELS ACRES PARTIAL ACREAGE

REPORTING| REPORTED INTEREST EQUIVALENT 2/
REPORTED 1/

INDIVIDUAL 34 33 6,440 2 6,420
CORPORATION 83 192 277,087 5 145,638
PARTNERSHIP 13 17 938 2 917
TRUST 6 6 3,527 ° 3,527

TOTAL 133 248 287,962 9 156,502

i/_ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED
ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE INTEREST
LESS THAN 100 PERCENT. :

2/_ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED
BY THE PERCENTAGE HELD BY THE FOREIGN OWNER.

TABLE 36--DISPOSITIONS OF FOREIGN-OWNED U.S. AGRICULTURAL LAND

BY SIZE OF DISPOSITION, JANUARY 1 - DECEMBER 31, 1987
OWNERS PARCELS SELLING
SIZE REPORTING REPORTED ACRES PRICE
(ACRES) (NUMBER) (NUMBER ) (NUMBER ) (1,000
DOLLARS) 1/
LESS THAN 20 . 36 46 399 2,524
20-59 13 15 441 5,602
60-99 12 29 916 13,135
100-299 23 33 4,616 31,390
300-999 26 38 14,112 22,640
1000 OR MORE 23 87 267,478 84,661
TOTAL 133 248 287,962 159,949

i/ SELLING PRICE IS VALUE AT TIME OF DISPOSITION.

37


Foreign persons from Canada and West Germany not affiliated with U.S. corpor-
ations purchased most of the U.S. forestland or forest and other nonagricul-
tural lands (table 28). They account for 89 percent of such acquisitions, 87,086
acres.

Corporations account for the largest number of owners reporting acquisitions of
forest land of forest and other nonagricultural land--57 percent of the owners
reported acquiring 64 percent of the parcels covering 82 percent of the acres
(table 29). Thirty-two percent of the owners were individuals who reported
acquiring 26 percent of the parcels but only 9 percent of the acres.

TABLE 28--U.S. FOREST AND OTHER NONAGRICULTURAL LAND ACQUISITIONS
BY COUNTRY OF FOREIGN OWNER, JANUARY 1 - DECEMBER 31, 1987

OWNERS PARCELS ACRES VALUE
COUNTRY REPORTING | REPORTED | (NUMBER) (4,000
(NUMBER) | (NUMBER) DOLLARS) 4/

AUSTRIA 1 1 134 88
CANADA 4 10 71,145 9,097
FRANCE 1 1 192 SB
GERMANY (WEST) 7 9 15,941 8,666
UNITED KINGDOM 2 3 6,707 1,253
THIRD TIER 1 1 1 1
SUBTOTAL 2/ 16 25 94,120 19,163
US/CANADA 2 3 632 176
US/FRANCE 2 2 53 91
US/GERMANY (WEST) 2 2 280 192
US/SAUDI ARABIA 1 1 * 304 185
US/UNITED KINGDOM 5 6 2,790 2,199
SUBTOTAL 3/ 12 14 4,059 2,843
TOTAL 28 39 98,179 22,006

4/7 VALUE IS PURCHASE. PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

2/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN
SHAREHOLDERS.

3/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

TABLE 29--U.S. FOREST AND OTHER NONAGRICULTURAL LAND ACQUISITIONS
BY TYPE OF FOREIGN OWNER, JANUARY 1 - DECEMBER 31, 1987

(NUMBER )
PARCELS WITH
OWNER OWNERS PARCELS ACRES PARTIAL ACREAGE

REPORTING| REPORTED INTERESTS EQUIVALENT 2/

REPORTED 1/
INDIVIDUAL 9 10 9,089 ° 9,089
CORPORATION 16 25 80,967 4 63,801
PARTNERSHIP 2 3 7,565 ° 7,565
TRUST 1 1 558 ° 558
TOTAL 28 39 98,179 4 81,013

1/ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED
ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE INTEREST
LESS THEN 100 PERCENT.

2/ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED
BY THE PERCENTAGE HELD BY THE FOREIGN OWNER.

33


TABLE 40--ACOUISITIONS AND DISPOSITIONS OF FOREIGN-OWNED U.S. AGRICULTURAL LAND, BY DATE

UANUARY 1981 - DECEMBER 1987--CONTINUED
i
DATE °
PARCELS ACRES VALUE PARCELS ACRES VALUE
REPORTED (NUMBER) | (1,000 REPORTED (numBer) | (1,000
(NUMBER) DOLLARS )1/ (NUMBER) DOLLARS) .1/
i
1986
JANUARY 26 7,891 24,291 49 2.883 2,264
FEBRUARY 21 51128 4.778 13 To4 41903
MARCH 32 331144 50.234 1 42,734 101226
APRIL 36 24,188 134,075 16 41952 3,790
MAY 92 | 1,601,496 91,700 78 1,634,569, 191912
UNE 40 32.716 36,898 27 41438 3.469
yULY 29 24.774 31.430 47 181461 191939
hucUsT 27 | Tee 15,140 24 Tease 14.123
SEPTEMBER 29 a7.474 $1,923 16 41233 21908
OCTOBER 34 8, 124 211455, 26 s4l474 4.237
NOVEMBER 37 13.737 18.743 17 81791 21992
DECEMBER a5 37.854 70.675 60 51.087 391653
TOTAL 405 | 1,844,968 548,306 318 1,755,656 125,416
1987
JANUARY 14 2.575 9,290 16 3,435 6.638
FEBRUARY 24 14,091 38,976 16 31653 5.517
MARCH 36 13,937 23,629 25 4,477 10,930
APRIL, a9 35,144 22.932 52 24.674 18.679
may 28 37.893 15,199 18 31215, 5.173
UNE 32 146.874 241796 33 214.681 201463
yULY 31 241020 23304 20 121180 10.463
AUGUST 25 191680 12,892 28 5.198 5.974
SEPTEMBER 44 7.073 21.240 24 4.954 3. 164
OCTOBER 10 4,926 2,284 13 2.133 1,855
NOVEMBER 4 41597 452 6 262 31297
DECEMBER 1 40 25 ° ° 5.0
TOTAL 255 327,850 194,913 248 287,962 92,153

] 7
4/| VALUE 15 PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE) AT TIME OF ACQUISITION.

42



Q
oD
a
a
2

,000-399,999

es

EEH! 100,000-199,999

Proportion of Foreign-Owned Agricultural Land to All Privately Owned Agricultural Land in the

State Concentration of Foreign Ownership of Agricultural Land, December 31, 1987
United States, December 31, 1987



TABLE 11--USE OF U.S.

DECEMBER 31,

AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,
1987 --CONTINUED

(acres) .
COUNTRY CROPLAND PASTURE FOREST OTHER [OTHER NON- | NO USAGE TOTAL
AGRICULTURE | AGRICULTURE] REPORTED

UNITED KINGDOM 70,865 116,923 70,881 15,021 10,220 Oo | 283,910
URUGUAY 3,578 7,916 490 ° 1,056 ° 13,040
U.S.S.R. 204 130 177 55 269 ° 835
VENEZUELA 10,459 5,041 5.249 2,501 3,728 ° 26,978
VIETNAM ° ° 152 ° ° ° 152
YUGOSLAVIA 928 ° 10 ° a6 ° 1,024
MULTIPLE 6.292 - 8,817 4,884 255 1,804 ° 22.052
THIRD TIER 2.830 1,620 195,486 136 257 © = 200,329

SUBTOTAL 1/ 1,297,513 -| 1,486,479 1,729,176 312,667 325.556 504 (5,151,895
US/ ANDORRA 200 3,544 ° ° ° ° 3.744
US/ARGENTINA 704 3,191 40 ° 208 ° 4,140
US/AUSTRALIA 348 304 345 87 229 ° 1,283
US/AUSTRIA 2,232 12,525 725 ° 103 ° 15,585
US/BAHAMAS 15.560 38,257 4,291 10,260 1,826 ° 70,194
US/BARBADOS 415 ° ° ° ° ° 415
US/BELGIUM 16,599 35.104 8.662 1,556 1,896 ° 63.817
US/BERMUDA 1,757 |‘ 1,393 15,246 7,688 11,988 ° 38,072
US/BRAZIL 3.448 ° ° 301 320 ° 4,069
US/BRITISH VIRGIN

ISLANDS 789 689 10,275 204 199 ° 12,156
US/CANADA 55,134 363,770 534,896 29.126 61,860 0. 1,044,.786
US/CAYMAN ISLANDS 7,359 41s 1,618 917 614 ° 10,923
US/CHINA 316 ° ° ° 6 ° 322
US/COLOMBIA 284 4,576 50 ° ° ° 4,910
US/DENMARK 292 235 1,301 10 6 ° 1,844
US/ECUADOR. ° 1,549 ° ° ° ° 1,549
US/EGYPT 585 405 $43 113 22 ° 1,668
US/EL. SALVADOR 12 ° ° ° ° ° 12
US/F INLAND ° ° 2.975 ° 72 ° 3,047
US/FRANCE 30,973 34,384 221,656 18,478 10,417 0 315.908
US/GERMANY (WEST) 114,275 217,943 26,248 15,472 40,425 390. 414,753
US/GREECE 23 3,531 ° ° 3.215 ° 6.769
US/GUATEMALA ° 392 ° 20 ° ° 412
US/GUYANA ° ° ° 334 ° ° 334
US/HONG KONG 1,143 5.319 110 ° 27 ° 6,599
US/IRAN 1,183 1,047 905 665 402 ° 4,202
Us/TRAQ 800 ° ° ° 160 ° 960
US/TRELAND 1,742 672 182 319 3 ° 2.918
US/ITALY 3.358 1,195, B14 671 951 ° 6.989
US/JAPAN 13.825 1,390 11, 105 2,355 5,552 ° 34,227
US/KOREA “(SOUTH) ° 63 ° ° 12 ° 75
US/KUWAIT 548 5,615 772 604 89 ° 7,628
US/LEBANON 200 140 133 209 24 ° 703
US/LIBERIA 1,871 18,749 4,830 1,032 3.463 ° 29,945
US/LIBYAN ARAB REPUBLIC ° 277 3 ° 280
US/LIECHTENSTEIN 95.231 4,744 7.971 3.548 12,302 ° 63,793
US/LUXEMBOURG 11,755 47.710 2.739 46,066 7,808 ° 116,078
US/MALAYSIA ° ° ° 300 ° ° 300
US/MEXICO 4,071 70,887 1,032 6,147 2,372 ° 84,509
US /NETHERLANDS 57,805 185,907 74.190 25.744 37,598 O | 38t. 211
US/NETHERLANDS ANTILLES 73,126 123,203 15,199 10.000 19,992 0. © 241,520
US/NEW HEBRIDES 1,300 1,593 ° ° 158 ° 2.991
US/NEW ZEALAND ° 327 ° ° 5 ° 332
US/NICARAGUA ° 242 40 ° ° ° 282
US/NORWAY 66 30 140 58 58 ° 352
US/PANAMA 1766 29.990 7.917 3.298 1,507 ° 64,478
US/PHILIPPINES 882 59 ° ° 475 ° 1.416
US/PORTUGAL 1,429 151 ° ° 103 ° 1,683
US/SAUDI ARABIA 4,964 5,562 6.168 182 2,729 ° 19,605
US/SOUTH AFRICA 1,345 3.138 178 50 50 ° 4.761
US/SPAIN 3,047 1,934 1,568 547 15 ° 73108
US/SWEDEN 2,615 313 143 344 732 ° 4,147
US/SWITZERLAND 93,717 46,244 65.646 24, 109 13,845 Oo 243.561
US/TAIWAN 5.110 300 2.339 . ° 100 ° 7,849
US/THATLAND 175 ° ° 7 ° ° 252
US/TRINIDAD & TOBAGO 30 ° ° ° ° ° 30
US/TURKEY 350 93 ° ° ° ° 443
US/UNITED ARAB EMIRATES 126 854 ° ° 32 ° 1,012
US/UNITED KINGDOM 42,489 185,556 3,227,298 19,876 36,072 205 3.511.196
US/URUGUAY ° 550 25 40 3 ° 618
US/VENEZUELA 34,540 973 1,463 410 1,094 ° 38,480
US/MULTIPLE 7,959 5,403 161,349 B44 1.606 O 177.164
US/THIRD TIER 197,884 1,994 144,249 5.784 5.763 © 292,674

SUBTOTAL 2/ 817,754 | 1,474,085 4,564,376 237,759 288,508 595 7,383,077
TOTAL ALL

LANDHOLDINGS 2,115,267 | 2,960,564 6,293,552 550,426 614,064 1,099: 12,534,972

4/ TOTAL INTERESTS EXCLUDING U.S.| CORPORATIONS WITH FOREIGN SHAREHOLDERS.

2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

20


Land Use

Fifteen percent of the dispositions were cropland, 14 percent pasture, 67 percent
forest, 3 percent other agriculture, and 1 percent other nonagriculture (table
39). Foreign persons from Canada and Panama not associated with a U.S
corporation disposed of 61 percent of the cropland. Foreign persons from
Tanzania not associated with a U.S. corporation and U.S./Swiss corporations
disposed of 67 percent of the|past- ure land. Foreign persons from Canada not
associated with a U.S. corporation disposed of 89 percent of the forest land.

|
DISPOSITIONS OF U.S. AGRICULTURAL LAND BY COUNTRY OF FOREIGN

TABLE 37
OWNER, JANUARY 1 - DECEMBER 31, 1987
OWNERS PARCELS SELLING
COUNTRY REPORTING | REPORTED ACRES PRICE
(NUMBER ) (NUMBER ) (NUMBER ) (1,000
DOLLARS) 1/

ARGENTINA 1 1 20 20
BAHAMAS 1 1 344 300
BRITISH VIRGIN ISLANDS 1 1 19 18
CANADA 22 28 177,345 33,152
GERMANY (WEST ) 13 18 11,784 9,380
HONG KONG 2 2 271 3,642
ITALY 1 1 4,081 4,476
JORDAN 2 2 248 8,387
LIECHTENSTEIN 2 2 1,062 990
MEXICO 2 6 2,678 2,760
NETHERLANDS 5 5 248 125
NETHERLANDS ANTILLES 14 14 3,344 18,712
PANAMA 5 6 16,867 10,478
SWEDEN | 1 1 5 30
SWITZERLAND 12 17 1,682 2,090
TANZANIA 1 1 10,337 599
TURKS ISLANDS 1 1 344 100
UNITED KINGDOM 2 3 56 50
VENEZUELA 2 2 195 1,668
MULTIPLE 1 1 2,518 12,000
THIRD TIER 2 3 560 555

SUBTOTAL 2/ 93 116 233,975 110, 132
US/BAHAMAS. 1 2 1,040 8,760
US/CANADA 9 15 2,891 15,096
US/CAYMAN ISLANDS 1 1 2,205 1,470
US/EGYPT 1 1 809 742
US/FRANCE 3 14 5,602 1,047
US/GERMANY (WEST ) 2 3 616 364
US/JAPAN 1 1 640 1,233
US/LIBERIA 1 1 498 1,270
US/LIECHTENSTEIN 1 2 271 125
US/NETHERLANDS ANTILLES) 1 1 7 5
US/PANAMA 1 10 966 1,494
US/SWITZERLAND 8 38 27,784 9,770
US/UNITED KINGDOM 9 42 10,653 8,321
US/VENEZUELA 1 1 5 120

SUBTOTAL 3/ 40 132 53,987 49,817
TOTAL ALL

LAND DISPOSITIONS 133 248 287,962 159,949

4/ SELLING PRICE IS| VALUE AT TIME OF DISPOSITION.

2/ TOTAL INTERESTS [EXCLUDING U.S. CORPORATIONS WITH FOREIGN
SHAREHOLDERS.

3/ TOTAL INTERESTS [OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS

38



Table

1.

10.

11.

12.

13.

14.

15.

16.

17.

LIST OF TABLES

U.S. agricultural landholdings of foreign owners by State,
December 31, 1987

U.S. agricultural landholdings by~type of foreign owner, December 31,

1987 .

1987 .

Foreign owners of U.S. agricultural landholdings by State, December 31,

Foreign-owned U.S. agricultural landholdings by size of holding,
December 31, 1987 Co

Value of U.S. agricultural Jandholding by type of foreign owner,
December 31, 1987 ee

Value of foreign-owned U.S. agricultural tandholdings by date of
acquisition, December 31, 1987 oe : wont

Value of foreign-owned U.S. agricultural landholdings by State,
December 31, 1987 ce we ee we

U.S. agricultural landholdings by.country-of foreign owner,
December 31, 1987 woe .

Foreign ownership of U.S. agricultural landholdings by U.S. region,
December 31, 1987 So ee Foe

Foreign-owned U.S. agricultural landholdings by type of interest,
method of acquisition, and owner - representative, December 31, 1987 .

Use of U.S. agricultural landholdings by country of foreign owner,
December 31, 1987 : hone

U.S. forest and other nonagricultural landholdings of foreign owners
by State, December 31, 1987

U.S. forest and other nonagricultural landholdings by country of
foreign owner, December 31, 1987 . coe

U.S.
owner, December 31, 1987

Foreign-owned U.S. forest and other nonagricultural landholdings by
size of holding, December 31, 1987 .

Intended use of U.S. agricultural landholdings of foreign owners,
December 31, 1987

Tenure of foreign-owned U.S. agricultural landholdings, December 31,
1987 . oe

forest and other nonagricultural landholdings by type of foreign

. 10

- il

. 13

- 15

17

. 19

. 21

. 22

. 23

. 23

24

24


Interest in Land

Ninety-one percent of the parcels, accounting for 76 percent of the reported
acres, were acquired in fee interest whole (table 25). Partial interests were
acquired in an additional 19 percent of the acres.

Method of Acquisition

Sixty-eight. percent of the parcels, covering 40 percent of the acres, were -
acquired for "Cash Only" (table 25). This compares with 10 percent of the
parcels, covering 22 percent of the remaining acres, which were acquired by
_\Other Method Only."

Land Use

Of the acres acquired in 1987, 38 percent were in pasture, 32 percent in forest,
21 percent in crop, 5 percent in other agriculture, and 4 percent in other
nonagriculture (table 26).

Separating out data on reports for only forest land or forest land and other
nonagricultural land shows that 30 percent of the acquisitions are in these two
land-use categories (table 27). The bulk of the acquisitions, 64 percent, is
is primarily farmland, although it includes some forest and/or other nonagri-
cultural land commonly reported as part of the farmland acquisition (table 26):

TABLE 25--FOREIGN-OWNED U.S. AGRICULTURAL LAND ACQUISITIONS BY TYPE
OF INTEREST, METHOD OF ACQUISITION, AND OWNER-REPRESENTATIVE,
JANUARY 1 - DECEMBER 31, 1987

(NUMBER)
ITEM PARCELS ACRES
: REPORTED
INTEREST:
FEE INTEREST WHOLE 229 245,669
FEE INTEREST PARTIAL 1/ 13 60,354
TRUST BENEFICIARY : 4 1,596
PURCHASE CONTRACT 6 17,194
TOTAL 252 324,813
METHOD OF ACQUISITION:
CASH ONLY 172 128,636
CREDIT ONLY 15 5,123
TRADE ONLY 4 3,730
GIFT/INHERITANCE ONLY 3 588
OTHER METHOD ONLY 22 72,243
CASH & CREDIT ONLY 20 48, 165
CASH & TRADE ONLY 1 192
CASH & ANY OTHER COMBINATION 1 130
NONCASH COMBINATIONS 7 66,006
TOTAL 252 324,813
OWNER-REPRESENTATIVE:
ATTORNEY 86 148,907
MANAGER 42 44,003
AGENT 39 22,463
OTHER 70 103,219
FOREIGN OWNER 15 6,221
TOTAL 252 324,813

4/ THE FEE INTEREST PARTIAL IS USED FOR THOSE PARCELS WHICH ARE
OWNED ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE
INTEREST LESS THAN 100 PERCENT

31


Interest in Land

Of the 13,209 parcels of foreign-held U.S. agricultural land, 82 percent of the
parcels, accounting for.85 percent of the reported acreage, is held in fee inter-
est whole (that is, the owner holds the estate in its entirety). Partial inter-
ests are held in another 9 percent of the parcels covering another 11 percent of
the acres (table 10).

Under the AFIDA regulations, leases of 10 years or longer are the only leases
that need be reported. 4/ Leases are treated separately because they represent a
totally different type of interest. Questions on value, tenure, and method of
acquiring land do not apply because the report form was not devised to deal with
leases. The U.S. Department of Agriculture (USDA) has received 398 reports
covering a net total of 1,052,317 acres of leased land. Timber land accounts for
669,399 acres, or 64 percent of the reported foreign leaseholds.

Method of Acqu: on

More foreign investors reported paying cash for their U.S. agricultural land-
holdings than using any other method of acquisition. Of the total foreign-owned

TABLE 10--FOREIGN-OWNED U.S. AGRICULTURAL LANDHOLDINGS
BY TYPE OF INTEREST, METHOD OF ACQUISITION,
AND OWNER-REPRESENTATIVE, DECEMBER 31, 1987

(NUMBER)
ITEM PARCELS ACRES
INTEREST:
FEE INTEREST WHOLE 10,880 10,609, 122
FEE INTEREST PARTIAL 1/ 1,219 1,429,552
LIFE ESTATE ai 8,194
TRUST BENEFICIARY 204 114,287
PURCHASE CONTRACT 787 317,008
OTHER 78 56,809
TOTAL 13,209 12,534,972
METHOD OF ACQUISITION:
CASH ONLY 5,832 3,986,923
CREDIT ONLY 4,564 2,376,915
TRADE ONLY 306 286,573
GIFT/INHERITANCE ONLY 366 233,723
FORECLOSURE ONLY 27 40,481
OTHER ‘METHOD ONLY 677 3,333,228
CASH & CREDIT ONLY 1,191 1,283,195
CASH & TRADE ONLY 66 571,292
CASH & ANY OTHER COMBINATION 45 72,240
NO REPORT 59 27,159
NONCASH COMBINATIONS 76 323,243
TOTAL 13,209 12,534,972
OWNER-REPRESENTATIVE:
ATTORNEY 3.715 3,332,163
MANAGER 2,256 3,376,653
AGENT 1,385 1,104,357
OTHER 3,106 2,809,555
FOREIGN OWNER . 2,491 1,580,115
NO REPORT 256 332,129
TOTAL 13,209 12,534,972

4/ THE FEE INTEREST PARTIAL IS USED FOR THOSE PARCELS WHICH ARE
OWNED ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE
INTEREST LESS THAN 100 PERCENT

4/7 C.F.R. § 781.2(c) (1987)

17


Owners of parcels with less than 300 acres, 60 percent of all the owners, own 22
percent of the parcels covering only 0.6 percent of the forest land or forest and
other nonagricultural land (table 15). The remaining 40 percent of the owneys,
owning parcels with 300 or more acres, own 78 percent of the parcels covering
99.4 percent of these lands.

Intended Use 7

Concern has been expressed about farmland being purchased and taken‘ out of
agricultural production. Foreigners do not appear to be proceeding in this
direction to any substantial degree. However, the following data’ on intended use
and tenure, like much of the use and value data, are based on information at the
time of filing; they do not reflect subsequent changes. :

No change in intended use was reported for 93 percent of:the acres (table 16).
Intended use changes to other agricultural usage were reported for holders of 2
percent of the acres. Reports for 4 percent of the acres indicate that some
change to nonagricultural use is intended. Such reports do no ecessarily mean,
however, that all of these acres will be changed. What the reports do mean is
that the holders of these acres intended to change the use of*some of the
acreage. However, the report form does not ask how many acres will be involved.
Reports representing 1 percent of the acres did not indicate intended use.

TABLE 14--U.S. FOREST AND OTHER NONAGRICULTURAL LANDHOLDINGS

BY TYPE OF FOREIGN OWNER, DECEMBER 31, 1987 |
(NUMBER) o,
PARCELS WITH |. ACREAGE
‘ OWNER owners | PARCELS ACRES PARTIAL EQUIVALENT 2/

INTERESTS 1/

INDIVIDUAL 312 370 103,226 50 99,724
CORPORATION 292 1,164 5,384,467 36 4,968,291
PARTNERSHIP 7 567 357,698 18 354,151
ESTATE 2 2 1,611 ° 1,611
TRUST 22 26 22,393 4 17,133
OTHER 4 5 865 ° 865

TOTAL 709 2,134 5,870,260 108 5,441,775

i/ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED ONLY
IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE INTEREST LESS THAN
100 PERCENT.

2/ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED BY
THE PERCENTAGE HELD BY THE FOREIGN OWNER.

TABLE 15--FOREIGN-OWNED U.S. FOREST AND
OTHER NONAGRICULTURAL LANDHOLDINGS
BY SIZE OF HOLDING, DECEMBER 31, 1987

SIZE OWNERS PARCELS ACRES
(ACRES) (NUMBER) (NUMBER ) (NUMBER)
LESS THAN 20 90 93 1,013
20-59 137 140 4.641
60-99 59 67 4,535
100-299 136 168 23,203
300-999 128 200 75,010
\ 1000 GR MORE 159 1,466 5,761,858
TOTAL 709 2,134 5,870,260

23


TABLE 11--USE OF U.S.

AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,

DECEMBER 31, 1987
(ACRES)
COUNTRY CROPLAND PASTURE FOREST OTHER [OTHER NON- | NO USAGE TOTAL
AGRICULTURE | AGRICULTURE| REPORTED

ARGENTINA 4,826 8.458 760 157 450 ° 14,651
AUSTRALIA 1,058 516 581 828 621 50 3,654
AUSTRIA 35,173 2,605 16,211 650 670 ° 55,309
BAHAMAS 9,287 9,839 7,409 2,172 2,267 ° 30,974
BAHRAIN 549 ° ° ° 4 ° 553
BELGIUM 5.652 54,143 3,190 1,800 1,504 ° 66,289
BELIZE 716 285 232 55 52 ° 1,400
BERMUDA 6,236 16,649 64,296 1,214 2,048 ° 90,443
BOLIVIA 10 ° ° 1 a) ° 41
BRAZIL 1,508 303 35 431 467 ° 2,744
BRITISH VIRGIN ISLANDS 5.248 4,409 20,295 2.476 345 ° 32,773
CANADA 184,893 180,304 956,445 38.460 1,904: 454 1,452,460
CAYMAN ISLANDS. 12,792 5,866 3.023 1,970 664 ° 24,315
CHILE 36 ° ° 240 ° ° 276
CHINA 182 70 27 168 : 38 °. 485
COLOMBIA 1,198 9,806 37 4,997 122 ° 16,100
COSTA RICA 6.589 4,000 ° 2.547 5.678 ° 18,814
CUBA 5 ° 3 12 ° ° 20
CZECHOSLOVAKIA 257 153 30 30 15 ° 485
DENMARK 5.487 623 2,042 34 492 °. 8,678
DOMINICAN REPUBLIC 2,008 ° ° 1 138 ° 2,147
ECUADOR 207 92 ° 686 65 ° 1,050
EGYPT 336 922 339 92 3 ° 1,692
EL SALVADOR 57 ° 79 ° 49 a: 185
FRANCE 27,655 23,073 8,931 6,958 6,850 ° 73,467
GERMANY (WEST) 316.317 134,793 205,001 28,891 32,201 | Oo = 717,203
GREECE 1,190 55.651 474 10 202 ° 87,227
GUATEMALA 168 201 175 35 275 ° 854
GUYANA ° ° ° 35 ° ° 35
HONDURAS 815 17 ° 60 oO” ° 892
HONG KONG 2,967 5,075 4,644 5,738 932 ° 19,356
HUNGARY ° ° ° 103 7 ° 110
INDIA 437 140 849 508 28 : ° 1,962
INDONESIA 150 312 26 283 53 ° 824
TRAN 1,224 624 612 129 1,436 ° * 4,025
TRAQ ° ° ° ° 1.140, ° 1,140
IRELAND 4,487 7,079 20 24 2,480 ° 41,090
ISRAEL 350 355 141 129 16 ° 991
ITALY 29,295 25,376 7,262 8,809 13,558 ° 84,300
IvORY COAST . ° ° 80 39 ° ° “419
UAMAICA ° 291 “0 17 3 ° 311
JAPAN 3.431 108, 285 351 1,925 990 Oo 114,982
YORDAN 294 778 255 a4 912 ° 2.277
KENYA 32 ° ° ° ° ° 32
KOREA (SOUTH) 15 68 353 a1 8 ° 48s
KUWAIT 707 458 125 67 214 ° 1,568
LEBANON 4,797 4,088 1,641 1,493 1,424 ° 13,443
LIBERTA~ 738 23,022 4,298 ° 5.179 ° 33,237
LIBYAN ARAB REPUBLIC ° 15 ° ° 287 ° 302
LIECHTENSTEIN 106,396 31,017 18,683 15,159 15,190 ° 186,445
LUXEMBOURG 2.218 712 2.610 632 313 ° 6.485
MALAYSIA 40 ° ° ° ° ° 40
MEXICO : : 18,753 206,669 2,559 28,910 10,374 © = 267,265
MOROCCO 2,322 14,091 ° 482 140 ° 17,035
NAMIBIA 142 ° ° ° 4 ° 146
NETHERLANDS 51,044 47,584 13,098 17,422 11,456 ° 140,604
NETHERLANDS ANTILLES 189,974 151,828 57,161 1,154 25.591 © 485,708
NEW ZEALAND 160 95 ° ° 95 ° 350
NICARAGUA ° 940 248 60 100 ° 1,348
NIGERIA ° ° ° ° 14 ° 14
NORWAY 5,730 667 80 284 515 ° 7,276
OMAN 120 126 126 43 39 ° 454
PAKISTAN 2.138 ° ° 33 ° 2.174
PANAMA 84,619 88,523 19,083 8,625 24,915 Oo = 195,765
PERU 192 67 2 100 56 ° 4ai7
PHILIPPINES, 995 706 228 213 645 ° 2,787
POLAND 72 25 50 ° ° ° 147
PORTUGAL 497 102 200 ° 17 ° B16
ST VINCENT 295 1,230 1,042 10 60 ° 2,637
SAUDI ARABIA 12,415 71426 11496 8,254 4,445 ° 341036
SINGAPORE ° 1,348 ° 34 546 ° 1,928
SOUTH AFRICA 62 ° ° 164 20 ° 246
SPAIN 1.017 1,034 413 “182 191 ° 2.537
‘SWEDEN 21620 762 1,786 880 208 ° 6.257
SWITZERLAND 61,020 99, 106 21,373 34,464 31,006 0 246.969
SYRIA 21819 808 133 370 TNT ° 4.847
TAIWAN 1.375 1,134 260 501 588 ° 3.858
TANZANIA 5,000 35 ° 170 4,938 ° 10, 143
THATLAND 113 120 7 ° ° ° 240
TRINIDAD & TOBAGO 994 30 ° ° 37 ° 1,061
TURKEY 159 283 ° 116 ° ° 558
TURKS ISLANDS 2,390 391 1,437 172 72 ° 4,462
UNITED ARAB EMIRATES, 287 432 100 1,942 22 ° 2.783
CONTINUED -



TABLE 26--USE OF U.S. AGRICULTURAL LAND ACQUISITIONS BY COUNTRY OF FOREIGN OWNER,
JANUARY 1 - DECEMBER 31, 1987
(ACRES) 1
{
COUNTRY CROPLAND PASTURE FOREST oTHER . |oTHER NON- | No USAGE TOTAL
AGRICULTURE | AGRICULTURE] REPORTED
AUSTRIA 10,652 85 155 116 9 oO 11,017
BERMUDA 295 ° ° ° ° ° 295
BRAZIL 494 ° ° ° ° ° 494
CANADA 2,152 1,150 71,145 141 39 ° 74,627
CAYMAN ISLANDS ° 11040 ° ° ° ° 11040
DENMARK 135 ° ° ° 1 ° 136
FRANCE 10 ° 192 ° 1 ° 203
GERMANY (WEST) 3,629 1,677 17,606 474 48 oO 23,434
GREECE 277 ° ° ° ° ° 277
IRAN 81 31 ° ° 3 ° 125
ITALY 20 840 ° 300 ° ° 1,160
JAPAN 728 69 42 1,023 10 ° tiaaz
KOREA (SOUTH) 15 68 10 ° 8 ° 91
mexico BR | 40,128 ° 28 } O 40,226
NETHERLANDS 614 736 146 ° ° ° 1,496
NETHERLANDS ANTILLES ° | ° ° 13 oO ° 13
PANAMA 1,008 ° ait 47 ° ° 1,367
PORTUGAL °. 7 ° ° 3 ° 20
SWEDEN 320 ° ° 320 ° ° 640
SWITZERLAND 115 18,781 10 32 5 ° 18,949
TAIWAN ° ° ° 21 ° ° 24
TRINIDAD & TOBAGO 6 ° ° ° ° ° 6
UNITED KINGDOM 832 ° 6,707 ° 18 ° 7,287
yurree 3) 8 % 3 H 8 23
THIRD TIER ae ° 1 4 20 ° 541
SUBTOTAL 1/ 21,732 64,649 96,305 2,520 168 0 185,374
US/AUSTRIA 327 ° 71 ° 1m ° ° 573
US/BAHAMAS ° 9,189 ° ° ° ° 9, 189
US/BARBADOS 41s ° ° ° ° ° 415
US/BELGIUM ° ° ° ° 14 ° 14
US/BERMUDA ° 7 7 ° ° ° 14
US/CANADA 3,384 ° 1,552 4,969 ° ° 9,905
US/EGYPT 425 255 120 ° J ° 809
US/FRANCE 216 ° 180 3,060 6 ° 3,462
US/GERMANY (WEST) 27,707 420 280 1,335 105 ° 29,847
US/HONG KONG 30 ° 110 ° °. ° 140
US/TRELAND 1,621 310 173 70 ° ° 2,174
US/ JAPAN, 11494 18 at 760 1,333 ° 31636
US/KUWAIT ° 5.300 ° ° ° ° 5,300
US/MEXTCO ° 381 ° ° ° ° 381
US/NETHERLANOS 1,143 29,556 20 2,664 18 ° 33,401
US/NETHERLANDS ANTILLES 676 7,764 °o ° 9,994 ° 18,434
US/NEW ZEALAND ° 327 ° ° 5 ° 332
US/PANAMA ° ° ° ° 25 ° 25
US/SAUDI ARABIA 2,196 435 i162 142 16 ° 3,951
US/SWITZERLAND 21355 769 145 7176 162 ° 41207
US/UNITED KINGDOM 21940 5,289 2,878 208 1,918 ° 13,230
SUBTOTAL 2/ 44,929 60,020 6,829 13,981 13,680 ° 139,439
TOTAL ALL
LAND ACQUISITIONS 66.661 124,669 103,134 16.501 13,848 © 924,819
l
4/ TOTAL INTERESTS EXCLUDING-’U.S: CORPORATIONS WITH FOREIGN SHAREHOLDERS.
2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.
TABLE 27--U.S. FOREST AND OTHER NONAGRICULTURAL LAND
“ACQUISITIONS OF FOREIGN OWNERS. BY STATE,
UANUARY 1 - DECEMBER 31, 1987
STATE PARCELS, ACRES VALUE
AND U.S. REPORTED (NUMBER ) (1,000
TERRITORY (NUMBER ) DOLLARS) 4/
: ALABAMA 2 188 87
FLORIDA 1 6t 56
GEORGIA 6 6,507 4,279
KENTUCKY 1 165 a4
LOUISIANA 1 89 1
MAINE 8 70,048 8,598.
NEW HAMPSHIRE 1 983 190
NEW YORK 1 40 25
SOUTH CAROLINA 3 mm 352
TENNESSEE 1 304 185
VERMONT 6 7.175 . 1,366
VIRGINIA 2 50 a2
WASHINGTON 5 41,758 6,570
WISCONSIN 1 40 104
TOTAL 39 98,179 22,006
i
32



total adjusted current value|
that of table 6. The total
cent decrease from the reporj

Country of Origin. Of the 1)
reported by foreign persons,
interests. .The remaining 41
with a U.S. corporation (tab

U.S. corporations with Unite'
reported foreign-held acres
percent. Adding to this, 28
Kingdom not..connected with al
of all the reported foreign-
Germany own 2,497,246 and 1,
percent. Foreign persons fr;
727,228 acres (6 percent) an
five countries of origin own
reported foreign-owned holdii
cent of the acreage, 493,003)
sons; that. is, the acreage ii
because no foreign country o
ship. ,

Foreign persons from Canada,
dom own the: greatest number
Germany account for the larg

Foreign persons from the Uni
Antilles, and Switzerland ow;

acres in the South (table 9)|.

owned by unidentifiable Thir,
869,308 acres, is owned by f
the Netherlands, Panama, and

In the West, foreign persons
other single group--35 perce:
U.S./U.K. corporation which
ther U.S./U.K. corporation ai
415,868 acres. Foreign pers
the Netherlands Antilles rep
additional 627,011 acres,. or,
Mexico, Japan, Panama, Luxeml

In the Northeast, foreign pe
2,205,508 acres, or 85 perce
Eighty-two percent of this fj
companies with extensive for
interests in 16 parcels cove
parcel covering 231,600 acre
with 25 parcels covering 973

In the North Central region,

and West Germany reported own

held acres in the region. T
tiple entities, U.S. corpora
countries, none of whom has

in table 7 should be a better measure of value than
adjusted current value by State indicates a 6-per-
ited current value.

2,534,972 acres of foreign-held agricultural land

59 percent is held by U.S. corporations with foreign
percent is held by foreign persons not connected

le :8).

‘d Kingdom (U.K.) interests own the largest: amount of
of U.S. agricultural land, 3,511,196 acres, or 28
3,910 acres owned by: foreign persons from the United
| U.S. corporation raises U.K. ownership to 30 percent
held acres. Foreign persons from Canada and West
131,956 acres, respectively, an additional 28

om the Netherlands Antilles and the Netherlands own
id 521,815 acres (4 percent), respectively. These

a total of 8,673,351 acres, or 69 percent of all
mgs of U.S. agricultural land. Approximately 4 per-
acres, is owned by unidentifiable Third Tier per-

ls not attributable to any foreign country of origin
f origin is listed through the third tier of owner-

West Germany, the Netherlands, and the United King-
of parcels. Foreign persons from Canada and West
est number of owners reporting.

ited Kingdom, West Germany, Canada, the Netherlands
m 2,622,621 acres or 59 percent of the foreign-held
Ten percent of the acreage, 430,619-acres, is

d Tier foreign person. An additional 19 percent,
foreign persons from Mexico, France, Liechtenstein,
Bermuda.

from the United Kingdom own more acres than any
mt. Much of the U.K. figure is attributable to one
owns 32 parcels covering 809,280 acres, and to ano-
ind its subsidiaries which own 23 parcels covering
‘ons from West Germany, Canada, the Netherlands, and
orted owning 1,583,541 acres or 37 percent. An

| 15 percent, were reported by foreign persons from
ibourg, and Switzerland.

xsons from Canada and the United Kingdom own
nt of the foreign-held acreage in the region.
igure, 1,801,501 acres, is attributable to three
‘est holdings--one Canadian company with partial
ring 596,262 acres, one Canadian company with 1

, and one U.S./U.K. corporation and its subsidiary
,639 acres.

foreign persons from Canada, the United Kingdom,
ing 722,648 acres, or 62 percent of the foreign-
welve percent of the acreage is owned by U.S./Mul-
ions which have foreign owners from a number of

P predominant interest in the corporation.

12


name or address of the foreign person must also be reported within 90 days of
such changes. Failure to comply with AFIDA subjects the foreign owner to a
possible civil penalty of up to 25 percent of the fair market value of the
interest held in the land in question.

In accordance with section 7 of the act, completed report forms are made
available for public inspection in Washington, DC, within 10 days of receipt by
the Secretary. Section 6 of the act requires that every 6 months the Secre-

tary transmit to each State|completed report forms for foreign-owned agricultural
land in that State.

Definitions

For this report, the term "holdings" applies to all U.S. agricultural land owned

by foreign persons as of December 31, 1987. For those transactions which oc-

curred in 1987, the terms "acquisitions" and "dispositions" refer to U.S. agri-
i

cultural lands acquired or disposed of, respectively, by foreign persons. These

terms are used as the titles for the subsequent sections analyzing the data

reported under the act.

“Agricultural land" is defined in the act as all land used for agricultural,
forestry, or timber production. The regulations further define agricultural land
as all land used for farming, ranching, forestry, or timber and include currently
idle land if its last use within the past 5 years was for farming, ranching,
forestry, or’ timber production. The regulations also exempt all agricultural
land not more than 10 acres|in the aggregate if the annual gross receipts from
the sale of farm, ranch, forestry, or timber products from such land do not
exceed $1,000.

AFIDA requires reporting “any interest" in the land other than a security inter-
est (a mortgage or other debt-securing instrument). The regulations exempt
leaseholds of less than 10 years’ duration, contingent future interests, those
noncontingent future interests that do not become possessory upon termination of
the present estate, nonagricultural easements and rights-of-way, and interests

solely in mineral rights.

A "foreign person," as defined in the act, includes any individual who 1) is not
a U.S. citizen or national, |}2) is not a citizen of the Northern Mariana Islands
or ‘the Trust Territories of|the Pacific Islands, or 3) is not lawfully admitted
into the United States for permanent residence. Any person who holds an Immi-
gration and Naturalization Service Form I-151 or 1-551 (green card) is considered
lawfully. admitted for permanent residence and is exempt from the requirements

of the act. Foreign governments, entities which are created under the laws of
or have their principal place of business in a foreign country, and U.S. entities
in which there is a significant foreign interest or substantial control are also
defined as foreign persons under the act.

For this study, individuals|are defined as one person or a husband and wife. The
"partnership" category includes all legally defined partnerships, joint ventures,
and tenancies in common which include two or more persons who are not married.
The term partnership does not differentiate between joint tenancies and tenancies
in common. In the interest|of simplicity and brevity, fine legal distinctions,
however important in an individual case, are ignored.

Each foreign entity holding|land is required to file a report. Therefore, if two
individuals own land as a partnership, the partnership is to file one report as a



acquired the remaining 43 percent (table 23). Foreign persons from Canada
acquired 26 percent of the acreage, 84,532 acres; followed by West Germany with
16 percent, or 53,281 acres; and foreign persons from Mexico not affiliated with
a U.S. entity with 12 percent and U.S./Netherlands corporations ith 10 percent.

TABLE 23--U.S. AGRICULTURAL LAND ACQUISITIONS BY COUNTRY OF FOREIGN OWNER
JANUARY 1 - DECEMBER 31, 1987

OWNERS PARCELS ACRES. VALUE
COUNTRY REPORTING | REPORTED (NUMBER ) (1,000
(NUMBER) (NUMBER ) DOLLARS) 4/
AUSTRIA 6 7 11,017 3,663
BERMUDA 1 1 295 485
BRAZIL 1 1 494 889
CANADA 13 20 74,627 12,811
CAYMAN ISLANDS 1 2 1,040 8,760
DENMARK 1 1 136 89
FRANCE 2 2 203 2,134
GERMANY (WEST) 24 30 23,434 17,700
GREECE 1 1 277 335
IRAN 1 1 125 60
ITALY 2 2 1,160 2,790
JAPAN 4 5 1,842 31,371
KOREA (SOUTH) 1 1 91 2,647
MEXICO 6 7 40,226 4,521
NETHERLANDS 9 9 1,496 1,688
NETHERLANDS ANTILLES 1 1 13 2,687
PANAMA 1 1 1,367 2,273
PORTUGAL 1 1 20 123
SWEDEN 1 1 640 85
SWITZERLAND 10 14 18,943 6,240
TAIWAN 1 1 24 75
TRINIDAD & TOBAGO 1 1 6 15
UNITED KINGDOM 5 7 7,257 2,826
MULTIPLE 1 1 103 392
THIRD TIER 2 3 541 954
SUBTOTAL 2/ 97 121 185,374 105,613
US/AUSTRIA 1 1 573 1,165
US/BAHAMAS 1 1 9,189 1,411
US/BARBADOS 2 2 415 4,371
US/BELGIUM 1 1 14 25
US/BERMUDA 1 1 14° 35
US/CANADA 6 18 9,905 3,895
US/EGYPT 1 1 809 742
US/FRANCE 8 10 3,462 5,136
US/GERMANY (WEST ) 8 10 29,847 11,564
US/HONG KONG 1 1 140 140
US/IRELAND 1 1 2,174 1,522
US/UAPAN 9 13 3,636 18,723
US/KUWAIT 1 1 5,300 1,275
US/MEXICO | 1 1 381 231
US/NETHERLANDS 3 17 93,401 802
US/NETHERLANDS ANTILLES 6 6 18,434 5.715
US/NEW ZEALAND 1 2 332 2,587
US/PANAMA 1 1 25 187
US/SAUDI ARABIA 3 5 3,951 4,022
US/SWITZERLAND 13 15 4,207 4,710
US/UNITED KINGDOM 12 23 13,230 18,324
SUBTOTAL 3/ at 131 139,439 86,582
TOTAL ALL
LAND ACQUISITIONS 178 252 324,813 192,195

A/ VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

2/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN
SHAREHOLDERS .

3/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS

29°


Characteristics of Foreign Owners

Type of Foreign Owner. Corporations reported acquiring 65 percent of the parcels
and 83 percent of the acres (table 19). Individuals account for 5 percent of the
acres; partnerships, 11 percent; and trusts, 1 percent. When partial interests
of foreign investors are taken into account, the 324,813 acres drop to an acreage
equivalent of 303,847, but the distribution among, the types of owners remains
virtually the same.

Corporations acquired an average of 1,163 acres per parcel, or 2,684 acres per
owner, compared with individuals who acquired an average 336 acres per parcel, or
372 acres per holder. Partnerships reported acquisitions averaging 1,100 acres
per parcel, or 1,365 acres per owner; and trusts 356 acres per parcel and 427

acres per owner. |

TABLE 18--U.S. AGRICULTURAL LAND ACQUISITIONS OF FOREIGN OWNERS BY STATE,
JANUARY 1 - DECEMBER 31, 1987

STATE VALUE STATE VALUE
AND U.S. ACRES (4,000 AND U.S. ACRES (4,000
TERRITORY (NUMBER ) DOLLARS) TERRITORY (NUMBER ) DOLLARS)
1 i/
ALABAMA 204 | 124 |NEBRASKA 144 117
ARIZONA 2,063 38.760 |NEW HAMPSHIRE 983 190
ARKANSAS, 914 606 |NEW JERSEY 412 529
CALIFORNIA 10,903 30,295 |NEW MEXICO 39,140 2,284
COLORADO 67,854 9,535 |NEW YORK 40 25
FLORIDA 5.378 9,860 |NORTH CAROLINA 1,720 2,338
GEORGIA 16,425 12,940 |OHIO 680 676
HAWAIT 500 7.500 |OREGON 1,660 570
ILLINOIS 2,691 5,533. [SOUTH CAROLINA | 2,495 1,497
INDIANA 8.134 5,072 | TENNESSEE 318 210
KENTUCKY 2,370 13,720 | TEXAS 25,317 14,484
LOUISTANA 19,085 3,805 | VERMONT 7,442 1,740
MAINE 17,622 10.551 | VIRGINIA 2,063 3,264
MARYLAND 1,031 3,416 |WASHINGTON 12,212 7,559
MICHIGAN 683 467 | WISCONSIN 910 1,144
MISSISSIPPI 1,452 4,049 | WYOMING 9,189 1,4tt
MISSOURI 359 274
MONTANA 2,420 650 TOTAL 324,813 192,195

A/ VALUE IS PURCHASE PRICE OR|NONPURCHASE PRICE (ESTIMATED VALUE).

TABLE 19--U.S. AGRICULTURAL LAND ACQUISITIONS BY TYPE OF FOREIGN OWNER
UANUARY 1 - DECEMBER 31, 1987

(NUMBER )
PARCELS WITH
OWNER OWNERS PARCELS ACRES PARTIAL ACREAGE
REPORTING| REPORTED INTERESTS EQUIVALENT 2/
REPORTED: 1/
INDIVIDUAL 47 52 17,469 ° 17,469
CORPORATION 101 163 271,097 10 251,366
PARTNERSHIP 25 a1 34,144 3 32,876
TRUST 5 6 2.136 ° 2,136
TOTAL 178 252 324,813 13 303,847

4/ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED
ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE INTEREST LESS

THAN 100 PERCENT.
2/ . ACREAGE EQUIVALENT) EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED BY
THE PERCENTAGE HELD BY THE FOREIGN OWNER.

26


Table

35.

36.

37.

38.

39.

40.

Dispositions of U:S. agricultural land by type of foreign owner,
January 1-December 31, 1987 . we

Dispositions of foreign-owned U.S. agricultural land by size of
disposition, January 1-December 31, 1987

Dispositions of U.S. agricultural land by country of foreign owner,
January 1-December 31, 1987 :

Dispositions of U.S. agricultural land by country of foreign owner,
by U.S. region, January 1-December 31, 1987

Dispositions of U.S. agricultural land by country of foreign owner,
by use, January 1-December 31, 1987

Acquisitions and dispositions of foreign-owned U.S. agricultural
land, by date, January 1-December 31, 1987

vii

Page

. 37

- 37

38

39

. 40

- 41


Table

18.

19.

20.

21.

22.

23.

24,

25.

26.

27.

28.

29.

30.

31.

32.

33.

34.

U.S.
January 1-December 31,

U.S.
January 1-December 31,

Foreign owners of U.S.
January 1-December 31,

Foreign-owned U.S.
sition,

agri
Value of U.S.
January 1-December 31,

U.S.
January 1-December 31,

Foreign ownership of u

region, January 1-Dece

Foreign-owned U.S. agr
method of acquisition,
December 31, 1987

Foreign-owned U.S.
owner,

U.S.
owners by State,

forest and other

U.S. forest and other

foreign owner, January

U.S. forest and other
foreign owner, January

Foreign acquisitions o
size of acquisition, J.

Intended use of U.S. a,
January 1-December 31,

Tenure of foreign-owne
January 1-December 31,

Dispositions of U.S. a
State, January 1-Deceml

a
Ja

Dispositions of U.S.
ship of purchasers,

agricultural land

agricultural land

agricultural land

acquisitions of foreign owners by State,
1987

acquisitions by type of foreign owner,
1987 toe

agricultural land acquisitions by State,
1987

cultural land acquisitions by size of acqui-

January 1- December 31, 1987

agricultural land acquisitions by type of foreign owner,

1987

acquisitions by country of foreign owner,
1987 . :

Ss.
Inber 31,

agricultural land acquisitions by U.S.
1987

icultural land acquisitions by type of interest,
and owner-representative, January 1-

nonagricultural land acquisitions of foreign

January 1-December 31, 1987

nonagricultural land acquisitions by type of
1-December 31, 1987

jonagricultural land acquisitions by type of
1-December 31, 1987

£ U.S. forest and other nonagricultural land by
Anuary 1-December 31, 1987

gricultural land acquisitions of foreign owners,
1987

d U.S.
1987

agricultural land acquisitions,

gricultural land by type of foreign owners, by
ber 31, 1987 woe oe

gricultural land by foreign owners, by citizen-
nuary 1-December 31, 1987

26

27

28

28

29

30

31

agricultural land acquisitions by country of foreign
January 1-December 31,1987

32

32

33

33

34

34

35

36

36


TABLE 8--U.S. AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,

DECEMBER 31, 1987
(NUMBER )

COUNTRY OWNERS PARCELS _ ACRES
ARGENTINA . 46 52 14,651
AUSTRALIA 13 19 3,654
AUSTRIA 52 78 55,309
BAHAMAS 28 44 30,974
BAHRAIN 5 a: 553
BELGIUM . 97 148 66,289
BELIZE 6 8 1,400
BERMUDA 48 64 ) 90,443
BOLIVIA 2 2 1
BRAZIL 5 4 2.744
BRITISH VIRGIN ISLANDS 27 42 32.773
CANADA : 1,719 2,128 1,452,460
CAYMAN ISLANDS 48 55 24,315
CHILE 2 2 276
CHINA 5 6 ‘ 485
COLOMBIA 33 37 16,100
COSTA RICA 4 10 : 16 18,814
CUBA 2 2 20
CZECHOSLOVAKIA , 4 5 aes
DENMARK i 16 20 8,678
DOMINICAN REPUBLIC | 11 13 2.147
ECUADOR 7 25 32 1,050
EGYPT, 10 cz) 1,692
EL- SALVADOR 3 3 185
FRANCE 139 160 73,467
GERMANY (WEST) 1,084 1,642 717,203
GREECE 17 20 57,227
GUATEMALA 10 12 854
GUYANA 1 1 35
HONDURAS "1 "1 892
HONG KONG 58 89 19,356
HUNGARY 1 2 110
INDIA 15 17 41,962
INDONESIA 4 6 824
IRAN 28 at 4,025
IRAQ 1 1 41,140
IRELAND 12 17 11,090
ESRAEL 6 6 991
ITALY. 30 43 84,300
IVORY COAST 1 1 119
UAMAICA 2 2 ant
JAPAN 36 at 114,982
JORDAN 15 22 2.277
KENYA 1 1 32
KOREA (SOUTH) 4 4 485
KUWAIT 7 8 1,568
LEBANON 34 51 13,443
LIBERIA : 22 29 33,237
LIBYAN ARAB REPUBLIC 1 2 302
LIECHTENSTEIN 116 153 186,445
LUXEMBOURG 7 10 6,485
MALAYSIA 1 40
MEXICO 229 307 267,265
MOROCCO 2 6 17,035
NAMIBIA 1 2 146
NETHERLANDS, 47m 719 140,604
NETHERLANDS ANTILLES 403 509 485,708
NEW ZEALAND. 2 2° 350
NICARAGUA 2 3 1,348
NIGERIA 1 4 14
NORWAY 27 27 : 7,276.
OMAN 2 5 454
PAKISTAN T 9 2,171
PANAMA 157 232 195,765
PERU 22 24 ai7
PHILIPPINES. 32 aT 2,787
POLAND 4, 1
PORTUGAL 4 5
ST VINCENT 2 4
SAUDI ARABIA 40 54
SINGAPORE 8 8
SOUTH AFRICA 3 4
SPAIN 15 16
SWEDEN 20 25
SWITZERLAND 343 452
SYRIA 7 10
TAIWAN 26 34
TANZANIA 2 2
THATLAND 2 4
TRINIDAD&TOBAGO 4 4
TURKEY 2 2
TURKS ISLANDS 3 13 4,462
UNITED ARAB EMIRATES 7 2 2.783

CONTINUED --

13


Foreign Ownership of U.S.
Agricultural Land Through
~ December 31, 1987

J. Peter DeBraal

A Report to the President and the Congress
Under the Agricultural Foreign Investment Disclosure Act of 1978

INTRODUCTION

Foreign individuals and entities reported owning 12.5 million acres of U.S.
agricultural land as of December 31, 1987. This is slightly less than 1 percent
of all privately owned U.S. agricultural land and approximately 0.5 percent of
all land in the United States.

Summary of the Act and Regulations

The Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA), 1/ as imple-
mented by the regulations, 2/ required all foreign persons holding agricultural
land as of February 1, 1979, to file a report of such holdings with the Secretary
of Agriculture by August 1, 1979. All foreign persons who acquire or dispose of
agricultural land on or after February 2, 1979, are required to report such
transactions within 90 days of the transfer. In addition, any foreign person who
holds land which. subsequently becomes or ceases to be agricultural land or any
person who holds agricultural land who subsequently becomes or ceases to be a
foreign person must also file a report within 90 days of such change.

AFIDA specifies in detail the information to be supplied by: the foreign person
and provides that necessary additional information may be obtained by the
Secretary. The information required to be reported consists of the legal name
and address of the foreign person; citizenship, if an individual; if not an in-
dividual or a government, nature of the legal entity, including the entity's
country of creation and principal place of business; type of interest; legal
description; acreage; purchase price or any other consideration given; intended
use; where applicable, information about the representative of the foreign
person; how the interest in the land was transferred; the relationship of the
foreign owner to the operator; type of rental agreement, if any; and the date
the interest in the land was transferred. In the case of a disposition, the
party disposing of the interest is also required to give the legal name and
address of the purchaser; citizenship, if the purchaser is an individual; and if
the purchaser is not an individual or government, the nature of the entity,
country of creation, and principal place of business. Any change in the legal

*General Attorney, Resources and Technology Division, Economic Research
Service. Gertrude Butler and Joyce Su provided the data processing assistance.

1/ Pub. L. No. 95-460, -7 U.S.C. §§ 3501-3508 (1982).

2/7 C.F.R. §§ 781.1-.5 (1987). See 7 C.F.R. §§ 2.21 (b) (34), .27(b)(15),
65(a) (34), and .85(a)(15) (1987) for the delegation of authority.


corporations, and foreign persons from West Germany who own 149,002 acres, or 27
percent. Foreign persons from the Netherlands, Mexico, and’ the United Kingdom
own an additional 112,787 acres, or 20 percent

Based on reports by foreign owners who reported owning only forest land or forest
land and other nonagricultural land, these reports account for 47 percent of all
the foreign-owned U.S. agricultural land (tables 1 and 12). The remaining 53
percent is primarily farmland, although it includes some forest and/or other non-
- agricultural land commonly reported as part of the farmland holding (table 11).

The average parcel size for parcels with forest land or:forest land and other
nonagricultural land is 2,751 acres (table 12). Except for Maine (with 30 per-
cent of the acreage, the uniqueness of which has been noted previously), the
forest or forest and other nonagriculture acres are concentrated in the South and
West. Alabama, Georgia, Louisiana, Mississippi, and South Carolina account for
26 percent. California, Oregon, and Washington account -for another 23 percent of
the acres reported. There are also notable holdings in Michigan; Minnesota, New
York, and Pennsylvania, accounting for another 13 percent of the: acres.

U.S./U.K. corporations own 55 percent of the foreign-owned U.S. forest land or

forest and other nonagricultural lands (table 13). Foréign persons from Canada
own an additional 24 percent.

Individuals make up the largest number of owners reporting holdings of forest
land or forest and other nonagricultural land but account for only 17 percent of
the parcels and less than 2 percent of the acres (table 14). Corporations re-
ported holding 55 percent of the parcels, representing 92 percent of the acreage.
The remaining 26 percent of the parcels and 6 percent of the acres are held by
partnerships, trusts, estates, and others. When partial interests are taken into

account, the acreage equivalent is 428,485 acres less than the acres for which
reports were filed.

TABLE 12--U.S. FOREST AND OTHER NONAGRICULTURAL
LANDHOLDINGS OF FOREIGN OWNERS BY STATE,

DECEMBER 31, 1987
(NUMBER’)
ATE STATE
AND U.S. PARCELS ACRES AND U.S. PARCELS ACRES
TERRITORY TERRITORY
ALABAMA 327 239,596]MISSOURI 8 2,793
ARIZONA 2 95] MONTANA 8 262
ARKANSAS 14 4,146|NEW HAMPSHIRE 24 82,292
CALIFORNIA 13 233,761|NEW JERSEY 2 262
COLORADO 5 5,438/NEW YORK 88 285,902
CONNECTICUT 2 84|NORTH CAROLINA 136 65,373
FLORIDA 44 42,776|}NORTH DAKOTA 1 272
GEORGIA 352 344,874] OHIO 18 1,118
HAWALT 1 84 | OKLAHOMA 1 12
IDAHO 7. 8,585|OREGON 63 810,358
ILLINOIS 4 3,766 | PENNSYLVANIA 23 114,693
KANSAS 6 9,597]SQUTH CAROLINA 384 128,394
KENTUCKY 7 23,011] TENNESSEE 34 35,867
LOUISIANA 28 498,869] TEXAS 18 10,438
MAINE 70 1,751,994] VERMONT 138 66,037
MARYLAND 4 364| VIRGINIA 40 14,811
MASSACHUSETTS 3 1,213] WASHINGTON 101 315,078
MICHIGAN 26 181,044|WEST VIRGINIA 27 80,740
MINNESOTA S51 202,429] WISCONSIN 10 1,595
302,237
MESSTSSIPPT “° ° TOTAL 2,134 5,870,260

21


United States

Foreign Ownership
of U.S. Agricultural
Land Through

December 31, 1987

J. Peter DeBraal


P.L. 95-460 authorizes collection of theldate on this form. The data will be used to determine the effects of foreign persons ac-
quiring, transferring and holding agricultural land, and the effects of such activity on family farms and rural communities. Furn-

NOTED. ishing the data is mandatory. Failure to|comply or falsification of reporting is subject to civil penalty, not to exceed 25 percent
of the fair market value of the interest held in the tract on the date of the assessment of such penalty. The data may be furn-
ished to any Agency responsible for enforcing the provision of the Act and to the public.

DETERMINATION OF “FOREIGN PERSON” STATUS

DEFINITION: “Person” means any individual, corporation, company, association, firm, partnership, society, joint stock company, trust, estate, or any other
legal entity.

‘You are a “foreign person” under the provisions of P.L. 95460 and must complete the front side of this form (ASCS-153) if your answer is “NO” to all the

statements numbered 1, 2, and 3 below. | Fes[ No

7, 1AM a citizen of the United States, |
2. | AM a citizen of the Northern Mariana Islands or the Trust Territories of the Pacific Islands.

3. 1AM lawfully admitted to the United States for permanent residence, or paroled into the United States, under the Immigration and
Nationality Act.

You are a “foreign person” under the provisions of P.L. 95-460 and must complete the front side of this form (ASCS-153) if your answer is “YES” to any of
the statements numbered_4a, 4b, and 5 below. { fves| No

4, 1 AM a “person” other than an individual or goverameht, which is created or organized under the laws of:
a._A foreigh government of which has its principal place of business located outside the United States.

b. Any State of the United States, and in which significant interest or substantial contro! 1/ is held directly or indirectly by any
foreign individual, government, or person.

5. 1 AM a foreign government, |

| GENERAL INSTRUCTIONS

Complete this form in an original and three copies for each tract of land. Insertion of carbons is necessary. Report as a tract all acreages under the same owner-
ship in each county or parish acquired or transferred on the same date. Land in different counties or parishes and land acquired or transferred on different dates
must be reported as separate tracts.

Return the original and two copies to the County Agricultural Stabilization and Conservation Service (ASCS) Office where the tract of land is located. Retain
the last copy (Foreign Person Copy) for your records. DO NOT SEND THIS FORM DIRECTLY TO WASHINGTON, D.C.

After the original disclosure on ASCS-153 on the tract(s) of land owned by the same person within a county or parish, each subsequent change of ownership
‘or use must be reported by filing another ASCS-153.

ITEM INSTRUCTIONS AND REPORTING DATES
ITEM 1. ONLY ONE BOX MAY BE CHECKED

If the tract of land to be listed under Iter 2 on the front side of this document was:

—Owned on February 1, 1979, check *-2"3,. 2) } Reporting Date: This document is required to be
completed and returned by August 1, 1979.

If the tract of land to be listed under Item 2. on the front side of this document was, on or after February 2, 1979:
i B.tan
Acquired, ches ® Kes Reporting Date:
—Disposed of, check © $9 sii0n WZ) If any of these activities are checked
Changed from non-agricultural to agricultural use, check °'¥2"Ewicunure’TM [7] pin Item 1, return the completed

Changed from agricultural to non-agricultural use, check Eng um crane ro (gf ASCSASS within Rinets (0) days

ITEM, The date entered would be as follows for the activity checked in Item 1:

Box A or B- Date acquired.
Box C = Date disposed of.
Box D or E~ Date land use changed.

ADDITIONAL INFORMATION (Use additional sheets if more space is needed)

1/ Significant interest or substantial control as defined in 7 CFR 781.2 (k).

44 #U,S.GOVERNMENT PRINTING OFF ICE:1988-201-089:80134/ERS


The AFIDA procedures provide |for land to be reported by parcels. All land held
in the same manner (type of interest), located in one county, and acquired at the
same time is considered a parcel and is to be reported on a single form. Land
does not have to be adjacent jto be considered. part of one parcel... This parcel
concept is intended to ease the reporting burden.

All of the parcels (and acres) for each owner have been combined under each
owner. Therefore, the number of owners is less than the number of parcels.
However, because owners do not always report their names in exactly the same way
on each form, it is difficult to attribute these forms with great precision to
one person or legal entity. |Some foreign persons hold land in their own names
and also hold interests in entities which own other lands. These entities are
treated as separate owners. '

The data in this report should be viewed in light of the foregoing caveats and
those accompanying the tables. Reporters’ errors must also be considered in
reviewing this study. Resulting data deficiencies are noted and highlighted as
appropriate. The "No Report" category in the tables means that a response to the
particular question was not made. Note that. the acreage figures reported do not
mean that they are wholly owned by foreign investors. Of the 12.5 million
foreign-owned acres, 59 percent are owned. by U.S. corporations in which there is
a significant interest or substantial control by foreign persons (table 8). In
addition, a number of acres are owned only in part by foreign investors. See;
for example, table 2, which gives the acreage equivalent for those foreign owners
reporting partial interests inthe real estate. These partial interests reduce
the 12.5 million acres of. foreign holdings of U.S. agricultural land to an equi-
valent of 11.6 million acres!

ANALYSIS OF DATA REPORTED UNDER THE ACT

Holdings

Data in this section are derived from the 13,209 reports filed by foreign’ persons
who held land as of December |31, 1987. These report forms account for 12,534,972
acres of all U.S. agricultural land. This is an increase of 202,102 acres over
the 12,332,870 acres foreign |owners reported holding as of the end of last

year. 3/ This 202,102-acre imcrease is less than the 324,813 acres acquired
during 1987, as reported in the acquisitions discussion. Dispositions for 1987,
acreage reductions for foreign persons whose status changed to nonforeign, and
acquisitions reported in 1987 for previous years are the reasons for this’
occurrence,

Concentration of Foreign Ownership of U.S. Agricultural Land

Foreigners have reported acreage holdings in.49 States, Puerto Rico, and Guam
(table 1 and fig. 1). Rhode jIsland is the only State with no reported foreign-
owned agricultural land. Except for Rhode Island and Maine (described below),
only a small proportion of the privately held agricultural land in each State is
foreign owned (table 1 and filg. 2). -Deleting the acreage for Maine from’ the
Northeast data, foreign investment is concentrated in the South and West which
contain 36 and 34 percent, respectively, of all reported foreign holdings of U:.S.
agricultural land (table 9). .

3/ The 12,418,997 acres report in last year's report overstated the amount of
foreign-held U.S. agricultural land because of duplicate filings or other filing
errors and has been adjusted jdownward to 12,332,870 acres.



partnership, with the partners’ names and citizenship listed on the back of the
form. Occasionally, however, two people will file as individuals, each filing a
separate. report.on the same land with a partial interest of, for example, 50
percent listed on each form. Because it is not always possible to distinguish
separate reports for the same land, two such individuals cannot be differentiated
from one partnership. This may occur when there is no legal partnership but
individuals own the land as: tenants in common. If they file together on one
form, they are automatically. considered a partnership. If they file separately,
they are generally considered individuals. Therefore, the data on individuals
and partnerships and the number of reported parcels should be used with caution.

The act is designed to impute foreign person.status to certain U.S. entities
holding direct and indirect interests in U.S. agricultural land. For purposes of
the act, this is accomplished by defining each successive link in a chain of U.S.
entities containing foreign interests as a foreign person. However, only

the foreign person who actually holds the direct interest in the land (that is,
the first layer.or-tier) is considered the reporting entity. This entity need
not actually be foreign, but under the act it is deemed a foreign person because
another foreign person holds a significant interest or substantial control. in it.
In some instances, that second tier also may not actually be foreign but may be
deemed foreign under the act-for the same reason. The regulations define "sig-
nificant interest or substantial control" to mean a 10-percent or more interest
in the entity if held by a single foreign person or a group of foreign persons
acting in concert,, or a 50-percent or more interest if held by a group of foreign
persons not acting in concert, none of whom individually holds a 10-percent or
greater interest in that entity.

Under the regulations, the reporting entity (other than an individual or govern-
ment), whether domestic or foreign, is required to provide information (names,
addresses, citizenship, and the nature of the entity, if any) on the second-tier
investments; that is, all foreign persons holding a significant interest. or
substantial control in the reporting entity. In turn, a.second-tier entity may
be required to provide information -about. foreign persons who hold a significant
interest or substantial control in that entity.

When the foreign person is an individual from, or an entity created under the
laws of, for example, West Germany, the report is processed as "Germany (West)."
Where persons from many different countries hold direct and indirect interests in
one piece of land, an attempt is made to identify the predominant country as the
country of origin. When there is no predominant country--for example, an equal
partnership between a Canadian and.a West German--the report is processed as
"Multiple." Reports filed by U.S. corporations with foreign shareholders are
classified "U.S./(foreign country)." _ For example, a U.S. corporation with a
Canadian shareholder who has.a significant interest or substantial control is
processed as "U.S./Canada."| Similarly, a U.S. corporation owned by another U.S.
corporation in which a Canadian corporation has a significant interest or sub-
stantial control is processed as "U.S./Canada." Where foreign shareholders with
a significant interest or substantial control are from a number of countries,
none of which predominates, the report is processed as "U.S./Multiple." If three
or more tiers of U.S. corporations are listed with no foreign interest indicated,
the report-is processed as "U.S./Third Tier."~ Noncorporate entities with U.S.
interests are processed under :the predominant country of origin.

U.S. agricultural land owned by a U.S. entity deemed a foreign person under the
act (the party legally responsible for providing the information required by the
act) is reported from the standpoint of the U.S. entity rather than that of the
foreign shareholder.


TABLE 39--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY COUNTRY OF FOREIGN OWNER, BY USE,
JANUARY 1 - DECEMBER 31, 1987
(ACRES)
coUNTRY croptano | [pasture | Forest omuer —_orner non- | no usace | ToraL
| AGRICULTURE | AGRICULTURE | REPORTED

ARGENTINA ° | ° 20 ° ° ° 20
BAHAMAS ° 3a4 ° ° ° ° 344
BRITISH VIRGIN ISLANDS ° ° ° 19 ° ° 19
CANADA 1,933 2,345 169,982 2,795 290 O (177,345
GERMANY (WEST) 10,178 238 605 730 33 ° 11,784
HONG KONG . 27 134 113 ° ° O° 271
ITALY ° 3,000 ° 1,081 ° ° 4,081
YORDAN 184 32 64 1 ° ° 248
LIECHTENSTEIN 780 ° “0 32 250 ° 4,062
MEXICO 570 566 1,542 ° ° ° 2.678
NETHERLANDS 24 S 35 ° 187 ° 218
NETHERLANDS ANTILLES 2,849 5 106 235 149 ° 3.344
PANAMA 16/509 ° ait a7 ° ° 16867
SWEDEN ° ° °. 8 ° ° . 8
SWITZERLAND 1,154 151 274 102 1 ° 1.682
TANZANIA ° 9,303 1,034 . ° ° ° 10,337
TURKS ISLANDS ° ° 341 ° ° ° 341
UNITED KINGDOM 10 38 7 1 ° ° 56
VENEZUELA 61 104 ° ° 30 ° 195
MULTIPLE 370 ° 1,365 583 200 ° 2,518
THIRD TIER 548 ° 12 ° ° ° 560

SUBTOTAL 1/ 35,161 16,262 175,811 5.631 1,110 ©: 233,975
US/BAHAMAS ° 1,040 ° ° ° ° 1,040
US/CANADA 518 10 152 1,397 B14 ° 2,891
US/CAYMAN ISLANDS 2,000 ° 205 ° ° ° 2,205
US/EGYPT: 425 255 120 ° 9 ° 809
US/FRANCE. 176 Oo 5.413 13 oO -O 5,602
US/GERMANY (WEST) 210 ° 406 ° ° ° 616
US/JAPAN 640 ° ° ° ° ° 640
US/LIBERIA 353 103 ° 35 7 ° 498
US/LIECHTENSTEIN 258 ° ° ° 13 ° 271
US/NETHERLANDS ANTILLES 7 ° ° ° ° ° 7
US/PANAMA 797 160 ° 9 ° ° 966
US/SWITZERLAND 2.178 18,660 6,827 100 19 ° 27,784
US/UNITED KINGDOM 41277 8.037 2.551 24 4,767 ° 10,653
US/VENEZUELA ° ° ° 5 °. ° 3

SUBTOTAL 2/ 8,839 25,265 15,674 1,580 2,629 oO... 53,987
TOTAL ALL

LAND DISPOSITIONS 44,000 44,527 191,485 7244 3,739 0 | 287,962

|/ TOTAL INTERESTS EXCLUDING U.S.| CORPORATIONS WITH FOREIGN SHAREHOLDERS.

2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

PROGRAM COSTS

Administration of the AFIDA program for obtaining and analyzing the data has
required an estimated 9.4 staff-years at a cost of approximately $332,000 to USDA
for the: past year. The Agricultural Stabilization and Conservation Service
contributed approximately 7.9) staff-years at an estimated cost of $291,000. The
remaining costs and staff-years are attributable primarily to the Economic
Research Service, with some contributions by the Office of the General Counsel
and the Office of Governmental and Public Affairs.

40



Equity is frequently used to|measure net foreign investment transfer. To
approximate equity, debt was|subtracted from current value for all reports that
provided information on debt|and current value. The’252 reports providing
information on debt, $13,604,000, and current value, $196,353,000, resulted in an
equity figure of $182,749,000 (table 22). These figures reveal an equity figure
of 93 percent in relation to|current value.

Country of Origin. Foreign persons not affiliated with a U.S. corporation
acquired 57 percent of the acreage. U.S. corporations with foreign interests

TABLE 21--FOREIGN-OWNED U.S. AGRICULTURAL LAND ACQUISITIONS
BY SIZE OF ACQUISITION, JANUARY 1 - DECEMBER 31, 1987

SIZE owners PARCELS ACRES VALUE
(ACRES) REPORTING REPORTED (NUMBER ) (1,000
(NUMBER ) (NUMBER ) DOLLARS) 1/
l

LESS THAN 20 29 29 287 7,415
20-59 14 14 502 2,589
60-99 14 14 1,074 3.687
100-299 42 61 7,289 9,261
300-999 42 59 22,326 37,682
1000 OR MORE 37 75 293,335 125,591
TOTAL 178 252 324,813 192,195

|
4/ -VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

TABLE 22--VALUE|OF U.S. AGRICULTURAL LAND ACQUISITIONS BY TYPE
oF FOREIGN OWNER, JANUARY 1 - DECEMBER 31, 1987

ACRES ACRES
WITH PURCHASE WITH NON-
OWNERS PURCHASE PRICE NON- PURCHASE
OWNER REPORTING PRICE (4,000 PURCHASE PRICE
(NUMBER ) REPORTED DOLLARS) PRICE (4,000
. (NUMBER ) REPORTED DOLLARS)
(NUMBER )
INDIVIDUAL 47 16,269 44,417 1,200 2,821
CORPORATION 101 139,527 83,420 131,570 34,909
PARTNERSHIP 25 25,666 48,189 8,445 9,620
TRUST 5 1,258 1,569 878 550
TOTAL 178 182,720 144,295 142,093 47,900
aces ACRES
WITH CURRENT WITH EQUITY
CURRENT VALUE EQUITY (1,000
VALUE (4,000 REPORTED DOLLARS)
REPORTED DOLLARS) (NUMBER )
(NUMBER)
|
INDIVIDUAL 17,469 14,542 ~- 17,469 13,916
CORPORATION 271,097 119, 160 271,097 411,424
PARTNERSHIP 34,111 60,532 34,111 56,193
TRUST 2,136 2,119 2,136 2,119
TOTAL pears 196,353 324,813 182,749

28



The largest acreage acquired by individuals during the period was reported for
Washington. and Georgia (table 20). Organizations reported acquiring the largest
acreage in Maine and Colorado.

Size of Acquisition. The largest number of owners reported their acquisitions in
the range of 100 to 999 acres (table 21). Owners of parcels with 1,000 acres or
more (30 percent of the owners) acquired approximately 90 percent of the acres

and owners of parcels with less than 1,000 acres (70 percent of the owners)
acquired the remaining 10 percent of the acres. All parcels of 1,000 or more

acres accounted for 70 percent of the total value. The value per acre, however,...+:
is concentrated in the reports of holders of less than 20 acres--$25,836 per

acre, compared with $428 per acre for holdings of 1,000 or more acres.

Purchase Price and Value of Acquisitions. Corporations account for 62 percent of
the purchase price and nonpurchase price (estimated value) at time of acquisi-
tion (table 22). The average per acre purchase price and nonpurchase price (es-
timated value) is lowest for corporations at $436; followed by individuals, $798
trusts, $992; and partnerships, $1,695.

TABLE 20--FOREIGN OWNERS OF U.S. AGRICULTURAL LAND ACQUISITIONS BY STATE,

UANUARY 1 ~ DECEMBER 31, 1987
(NUMBER )
INDIVIDUAL ORGANIZATION
STATE
AND U.S.
TERRITORY PARCELS ACRES PARCELS ACRES.
REPORTED REPORTED

ALABAMA 1 16 2 188
ARIZONA ° ° 3 2,063
ARKANSAS. 2 643 1 271
CALIFORNIA 3 909 22 9,994
COLORADO ° ° 7 67,854
FLORIDA 7 1,233 8 4,145
GEORGIA 5 4,151 20 12,274
HAWAIL ° ° 1 500
ILLINOIS ° ° 10 2,691
INDIANA 1 80 4 8,054
KENTUCKY 1 112 7 2,258
LOUISIANA 1 6 5 19,079
MAINE 1 192 10 17,430
MARYLAND ° ° 2 1,034
MICHIGAN 1 395 4 288
MISSISSIPPI ° ° 5 1,452
MISSOURI ° ° 3 359
MONTANA ° ° 1 2,420
NEBRASKA 1 125 1 19
NEW HAMPSHIRE ° ° 1 983
NEW JERSEY ° ° 1 412
NEW MEXICO ° ° 5 9,140
NEW YORK 1 40 ° °
NORTH CAROLINA ° ° 9 1,720
OHIO 1 136 15 544
OREGON 2 1.660 ° °
SOUTH CAROLINA ° ° 14 2,495
TENNESSEE ° ° 2 318
TEXAS 9 1,995 16 23,322
VERMONT 5 1,160 6 6,282
VIRGINIA 4 372 5 1,691
WASHINGTON 4 4,240 4 7,972
WISCONSIN 2 4 5 906
WYOMING ° ° 1 9,189

TOTAL 52 17,469 200 307,344

27


Foreign persons reported tha’
than 1 percent, of privately,

ry) as of December 31, 1987.)

at the end of 1986. These a
submitted to the U.S. Depart
Investment disclosure Act of|

Information received at the
50 percent of all foreign-owi
other agricultural land for
for 5 percent.

Corporations own 80 percent
and individuals, 8 percent.
association, institutions, a

U.S. corporations, in which
stantial control, reported o
The remaining 41 percent was!
persons not affiliated with

A number of parcels are owne
foreign interest in some par
percentage being owned, for
million acres are adjusted f
acreage drops to an equivale

Foreign persons from the Uni.
Antilles, and the Netherland

The largest number of acres
Foreign holdings in Maine ac
agricultural land. These ho
foreign-owned agricultural 1
the foreign-held acres in Ma
and the third is a U.S. corp

Except for Maine, foreign ho
contain 36 and 34 percent, r
only State with no reported

Foreigners do not appear to
tion. No change in intended
cent of the acreage. No cha
acres, while some change was
regarding tenure change were

Data gathering and analysis
$332,000 for 1987.

SUMMARY

t they owned 12.5 million acres, or slightly less
owned U:S. agricultural land (farmland and forest-

This figure is 202,000. acres larger than the figure
md other findings are based on.an analysis of reports
ment of Agriculture under the Agricultural Foreign
1978.

time of reporting shows that forest land accounts for

med acreage, cropland for 17 percent, pasture and
28 percent, and nonagricultural and unreported uses

of the holdings acreage; partnerships, 10 percent;
The remaining 2 percent is held by. estates, trusts,
nd others.

|

foreign persons have a significant interest or sub-
wning 59 percent of all the foreign-held acreage.
reported as being held or acquired by foreign

a U.S. corporation.

d only in part by. foreign investors; that is, the
cels is less than 100 percent, with the remaining
example, by a U.S. partnership. When the 12.5

or these partial interests, the total foreign-owned
mt of 11.6 million acres.

|

ted Kingdom, Canada, West Germany, the Netherlands

s account for 69 percent of the foreign-held acreage.

owned by foreign persons was reported in Maine.
count for 9 percent of Maine's privately owned
dings represent 14 percent of all the reported
ind nationwide. Three companies own 91 percent of
ine, all in forest land. Two companies are Canadian

oration that is partially foreign owned.

dings are concentrated in the South and West which
espectively, of the holdings. Rhode Island is the
foreign-owned agricultural land.

e taking purchased agricultural land out. of produc-
use at the time of filing was reported for 93 per-
nge in tenure was reported for 45 percent of. the

reported for 28 percent of the acres. No responses
received for the remaining 27 percent of the acres.

cost the U.S. Department of Agriculture approximately



parcels, 44 percent,
Only" (table 10).

of the parcels,
"Other Method Only."

covering 32 percent of the acreage, were acquired for "Cash
This compares with 35 percent of the parcels, containing
19 percent of the acreage, which were acquired by "Credit Only," and 5 percent
containing 27 percent of the acreage,

which were acquired by

The "Other Method Only" category includes mergers, corpo-

rations that became foreign)because foreign persons obtained a significant

interest or substantial control in the corporations, or an individual exchanging
The "Cash and Credit Only" category covers

land for stock in a new corpo.

ration.

an additional 9 percent of the parcels and 10 percent of the acres.

Relationship of Foreign Owner to Representative
T

Forms were most commonly conpleted by the attorneys,
the parcels and 27° percent ‘of the total acreage (table 10).
group isthe "Other" category, which includes accountants,
people associated with or employed by corporations.
category filed forms for 24| percent of the parcels,

the foreign-held agricultural

‘Land Use

land.

family members,
People in the "Other"

Fifty percent of the reported foreign-owned holdings of agricultural land is
timber or forest land (table 11); cropland accounts for only 17 percent.

Foreign-owned cropland, pasture,

and other agricultural land (which includes, for
example, orchards ‘and vineyards) total 45 percent of all foreign-owned holdings.,

but only.0.4 percent of all] privately held agricultural land in the United

States.
percent of the reported forei

cultural landholding
years was for agriculture.

Foreign persons from the United Kingdom own 3,298,179 acres, or 52 percent, of
Foreign persons from Canada hold an additional
Unidentifiable Third Tier foreign persons own.5
The size of the U.K. holdings are attributable to
corporation with 72 parcels covering 1,594,808 acres
corporation] and its subsidiaries with 56 parcels covering

the reported forest landholdi

24 percent of the- forest land.

percent of the forest land.
two companies--a U.S./U.K.
and a U.S./U-K.
1,455,193 acres.

Foreign persons from West Germany, the Netherlands Antilles, and Canada: own the

most cropland, 933,719 acres,

largest holdings of cropland are from Switzerland and Liechtenstein, each with 7
Unidentifiable Third Tier foreign persons own an additional 7 percent

percent.
of the cropland.

Foreign persons from Canada
Netherlands Antilles own 50]p
Foreign persons from Mexico
an additional 30 percent, or
The largest group of owners

tively.

gn-held acres.

ngs.

or 44 percent.

West Germany, the United Kingdom,

ercent,

the Netherlands,

884,585 acres.

18

The "Other Nonagriculture" and "No Report" categories account for 5
Nonagricultural land includes
acreage such as the homestead and roads commonly reported as part of the agri-
or land that is idle now but its last use within the past 5
These land-use figures should be used with caution
because they reflect only information received at the time of filing and do not
account for any changes in land-use which may have occurred subsequent to filing.

Foreign persons with the next

and the

or 1,474,320 acres of the pastureland.
Switzerland, Panama, and Japan own

of other agricultural land are foreign persons from
the Netherlands Antilles and Canada with 13 and 12 percent of the acres, respec-
They are followed by foreign persons from Switzerland, U.S./Luxembourg -

accounting for 28 percent of
The second largest
and

representing 22 percent of


Rental agreements were reported for only 1 percent of the parcels covering less
than 1 percent of the acres acquired during this period. No responses'on rental
agreements were received for 67 percent of the parcels covering 47 percent of the
acres,

Tenure Change

Reports for 44 percent of the parcels acquired during the period indicate no
tenure change for 55 percent of the acreage (table 32). Reports for 31 percent
of the parcels, containing 18 percent of the acres, indicated a tenure change.
Because the number of acres affected by new tenure arrangements was not reported,
the acreage may be overstated; that is, all of these acres are not necessarily
affected by new tenure arrangements. No responses on tenure change were made for
25 percent of the parcels accounting for 27 percent of the acres.

Dispositions, Land-Use Changes, and Changes in Status

Data in this section are derived from reports filed by foreign investors who dis-
posed of 248 parcels of U.S. agricultural land covering 287,962 acres between
January 1 and December 31, 1987. In addition to these dispositions, there were
reports of land-use changes into agriculture affecting 1 parcel covering 1,000
acres and out of agriculture affecting 25 parcels covering 1,983 acres; and
reports of change in status from foreign to nonforeign affecting 96 parcels
covering 244,252 acres.

For the same reasons noted at the outset of the acquisitions discussion, the
reported data for dispositions, land-use changes, and changes in status should be
regarded as preliminary. Reports that were not timely filed and/or completed or
statutorily were not required to be filed by the closing date for this report are
not included.

TABLE 32--TENURE OF FOREIGN-OWNED U.S. AGRICULTURAL LAND ACQUISITIONS,

UANUARY 1 - DECEMBER 31, 1987
PARCELS ACRES VALUE
TENURE REPORTED (NUMBER ) (1,000
(NUMBER ) DOLLARS) 4/
CURRENT:
FOREIGN OWNER at 171,207 50,668
MANAGER 17 4,242 10,441
TENANT 64 93,947 44,014
NO REPORT 30 55,417 87,072
TOTAL 252 324,813 192,195
RENTAL:
cROP 2 456 657
CASH 1 640 480
NO REPORT 168 152,510 140,390
NOT APPLICABLE Bt 171,207 50,668
TOTAL 252 324,813 192,195
INTENDED CHANGE:
NONE 142 180,233 102,223
NEW 78 58,172 50,546
NO REPORT 62 86,408 39,426
TOTAL 252 324,813 192, 195

4A/ VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

35


Characteristics of Foreign Owners Disposing Land

Type of Foreign Owner. The largest amount of acres disposed were in Maine,
accounting for 63 percent of the dispositions acreage (table 33). The greatest
number of dispositions occurred in Texas, Pennsylvania, Vermont, and Florida,
accounting for 48 percent of the parcels but only 16 percent of the acreage.

Transfers by foreign investors|to U.S. purchasers accounted for 65 percent of the
parcels and 83 percent of the acres (table 34). Reports for 21 percent of the
parcels and 11 percent of the acres indicated that they were transferred to other
known foreign persons. Reports for 13 percent of the parcels covering 4 percent
of the acres indicated dispositions to persons'of unknown citizenship.

Corporations were the most active type of foreign owner disposing of land--
accounting for 62 percent of the owners, 78 percent of the parcels, and 96

TABLE 33--DISPOSITIONS OF, U.S. AGRICULTURAL LAND BY TYPE OF FOREIGN OWNERS,
BY STATE, JANUARY 1 - DECEMBER 31, 1987
(NUMBER )
inprvrodan ORGANIZATION TOTAL
STATE i
AND U.S.
TERRITORY PARCELS ACRES PARCELS ACRES. PARCELS ACRES
REPORTED REPORTED REPORTED
ALABAMA ° ° 2 15 2 15
ARIZONA ° ° 2 1,040 2 1,040
ARKANSAS ° ° 2 271 2 271
CALIFORNIA 1 160 16 3,837 17 3,997
COLORADO ° ° 8 26,247 8 26,247
FLORIDA 10 4,205 13 10,826 23 15,031
GEORGIA 2 877 13 4,938 15 5.815
INDIANA ° ° 5 7,655 5 7.655
LOUISIANA ° ° 2 1,257 2 1,257
MAINE ° ° 18 180,766 18 180,766
MARYLAND ° ° 4 1,290 4 1,290
MISSISSIPPI 1 140 3 3,495 4 3,635
NEBRASKA ° ° 2 39 2 39
NEW HAMPSHIRE ° ° 2 376 2 376
NEW YORK 3 72 4 2,005 T 2,077
NORTH. CAROLINA 1 20 7 586 8 606
OREGON ° ° 2 28 2 28
PENNSYLVANIA ° ° 26 5.378 26 5,378
SOUTH CAROLINA ° ° 4 78 4 78
TENNESSEE ° ° 1 8 1 8
TEXAS 1 250 i 43 23,695 44 23,945
VERMONT 13 399 14 1,536 27 1,935
VIRGINIA 1 317 6 4,032 T 4,349
WASHINGTON ° ° 16 2,124 16 2,124
TOTAL 33 6,440 215 281,522 248 287,962
TABLE 34--DI'SPOSITIONS OF U.S. AGRICULTURAL LAND BY FOREIGN OWNERS,
BY CITIZENSHIP OF PURCHASERS, JANUARY 1 - DECEMBER 31, 1987
(NUMBER )
PURCHASER : PARCELS ACRES
REPORTED
usA 160 238,770
FOREIGN 52 31,821
UNKNOWN 32 11,989
NO REPORT 4 5,382
TOTAL 248 287,962

36


Tenure

Tenants and foreign owners operate 38 percent and 28 percent of the parcels of
foreign-held U.S. agricultural land, respectively, whereas managers only operate
10 percent of the parcels (table 17). No responses to the tenure question were
received for the remaining 24 percent of the parcels. However, tenants operate
25 percent of the acres while foreign owners directly operate 44 percent and
managers 6 percent. No responses on tenure were received for the remaining 25
percent of the acres.

Rental agreements were reported for 5,293 parcels, or 40 percent, covering 26
percent of the acres. Of the rental agreements, cash agreements accounted for 65
percent and cropshare agreements for 33 percent of the parcels.

TABLE 16--INTENDED USE OF U.S. AGRICULTURAL LANDHOLDINGS OF FOREIGN OWNERS,
DECEMBER 31, 1987
i

(NUMBER )
ITEM NO CHANGE OTHER OTHER NON- NOT, TOTAL
| AGRICULTURE | AGRICULTURE| REPORTED

INDIVIDUAL:

PARCELS REPORTED 4,054 179 180 64 4,477

ACRES 868,622 63,690 48,499 8,579 989,390
ORGANIZATION:

PARCELS REPORTED 7,047 371 1,471 143 8,732

ACRES 10,|756,650 234,329 395,146 159,457 11,545,582
TOTAL:

PARCELS REPORTED 11,101 550 1,351 207 13,209

ACRES 11,625,272 298,019 443,645 168,036 12,534,972

TABLE 17--TENURE OF FOREIGN-OWNED
U.S. AGRICULTURAL LANDHOLDINGS
DECEMBER 31, 1987

(NUMBER )
|
TENURE PARCELS ACRES
i
CURRENT:
FOREIGN| OWNER 3,750 5,491,288
MANAGER. 1,251 820, 208
TENANT 5,069 3,096, 163
NO REPORT 3,128 3,117,941
TOTAL. 19,209 12,534,972
RENTAL:
cRoP 1,774 665,488
CASH 3,433 2,443,782
BOTH 8g 99,376
NO REPORT 4,166 3,835,038
NOT: APPLICABLE 3,750 5,491,288
TOTAL 13,209 12,534,972
INTENDED CHANGE:
NONE 5,683 5,603,255
New 4,172 3,326,335
BOTH 39 53,020
NO REPORT 3,315 3,552,362
TOTAL 13,209 12,534,972

24



PREFACE

This report is made pursuant to section 5 of the Agricultural Foreign Investment
Disclosure Act which, among other things, requires the Secretary of Agriculture

to prepare an analysis of foreign ownership of U.S. agricultural land.

The act

requires an annual report to the President and the Congress on a calendar-year

basis. This report covers information received through December 31, 1987.
. |

SUMMARY 2 6 J ee ee

LIST OF TABLES

INTRODUCTION .

Summary of the Act and

Definitions

ANALYSIS OF DATA REPORTED U!
Holdings : :
Acquisitions ....
Dispositions, Land-Use

Trends Ff

" PROGRAM COSTS

{

APPENDIX: REPORT FORM ascs|

CONTENTS

Regulations
DER THE ACT

Changes, and Changes. in Status

- 153

iv


APPENDIX:

REPORT FORM ASCS-153

Form Approved OMB _No, 0560-0097

Agricuttural Stal

ASCS-153
(08-28-84)

Needed, Use Reverse.

U.S. DEPARTMENT OF AGRICULTURE
ation and Conservation Service

AGRICULTURAL FOREIGN INVESTMENT DISCLOSURE ACT REPORT
NQTE: Read Instructions on Reverse Before Filling in Any Date Below. If Additional Space

1, TYPE ACTIVITY (See Reverse) (Check one)
A.Land
Heiging

D.Land Use Change [~)

E. Land Use Change
‘To Agriculture

Non-Agriculture

B. Lang C. Lang
Reauistion C) © Bison CI

te]

ITEM Onrice TTEM
us!
2. Tract Location and Description ONLY | _5. Type of Interest Held in the Agricultural Lend (Check One) | cHecK
‘A, LEGAL DESCRIPTION OF ASCE THACT NUMBER A. Fee Interest (ownership) Whole :
B. Fee Interest (ownership) Partial PEW Ceny 4
C. Life Estate
: D, Trust Beneficiary
B COUNTY OF FARTS NOLO ACH =. Purchase Contract
DBTATE F, Other (explain)
3, Owner of Tract (in item 2A) (See Reverse)
A, NAME 6, How was this Tract Acquired or Transferred? CHECK
° A. Cash Transaction
B, 1D NO. (Nine digits) TeHeck iF no. B. Credit or Installment Transaction
NOT KNOWN otek
itate/Provinee, Country) oe
D._Gift or Inheritance
E, Foreclosure
F. Other (explain)
D, Type of Owner (Check one) CHECK
1, Individual (including husbarid wife)
4. Citizenship of Individual | 7. Value of Agricultural Land
T ‘A. Purchase Price of Land or if a land dispo- |
2. Government (name of country) sition, the original price paid by seller $
3. Organization B. Non-Purchase, Estimated Value at the ]
e ‘ a
BB orpotation Time of Acquisition s
2) Partnership ©. Whats the estimated curent value orifa ]
3) Estate land disposition, the selling price of the $
4) Trust D. How much of purchase price in Item 7A ]
3) Institution remains to be paid? $s
6) Association B. Date of Acquisition or rer pr per
7) Other Transfer (See Reverse)
b. Gov't, or country under whose | 9, Current Land Use (Usual use of land, For idle land, ACRES
Jaw the organization is created report as other Agriculture.) Report in Whole Numbers|
¢. Principal place of business (for |
‘organizations only) A. Crop
Liston separate sheet, the Name, Address and Country of a fh B. Pasture
foreign persons who individually’ or in the aggregate hold significant :
interest or eubstantial control in the pense ena eee S. Forest or Timber
ly if item 1C - Land Disposition - is checked D. Other Agriculture
RESON RECEIVING TRACT E. Non-Agriculture
F, Total (Should equal 2C)
2. ADDRESS (Street, City, State/Province, Country) 10. Intended Use as of This Date (Check One! CHECK
‘A. No Change
B._ Other Agriculture
3 enrizensnir =
usa [1] roreien [[] _unxnown [_] C_Non-Agriculture_ -
1. Relationship of Foreign Owner to Producer (If applicable) | cuecn
4. Representative of Foreign Porson (completing form, if epplicable) ;
RNAME A. Producer ie:
1, Foreign owner
B ADDRESS (Sheet, State, County) 2. Manager
3._ Tenant or sharecropper
B. Rental agreement is:
©. TELEPHONE NO. (Area Code) 1. Accrop share
D. Relationship of Representative to Foreign Person CHECK tned
1, Attomey 2. Cash or fixed rent
2. Manager 12. The Producer on This Tract is: CHECK
3. Agent A_The same person as when the tract was acquired
4. Other (Explain on Reverse) B. Anew person

13. CERTIFICATION - I certify that the information entered in this report is complete and correct.

£0.@ civil penalty not to exceed 25% of the fair market value of the interest held in the tract of land.

J understand that falsification of reporting is subject

14, SIGNATURE (Owner or legally authorized representative)

fer

[DATE

FOREIGN PERSON COPY

43


TABLE 40--ACQUISITIONS AND DISPOSITIONS OF FOREIGN-OWNED U.S. AGRICULTURAL LAND, BY DATE

UANUARY 1981

- DECEMBER 1987

ACQUISITIONS DISPOSITIONS
DATE
PARCELS ACRES VALUE PARCELS ACRES VALUE
REPORTED (NuMBER) | (1,000 REPORTED (NUMBER) =| (1,000...
(NUMBER) DOLLARS )1/ (NUMBER) -}DOLLARS)4/
1981 :
UANUARY 149 59,915 104,291 52 34,470 29,058
FEBRUARY 150 43,724 86,986 32 10,771 16,990
MARCH 281 = 2,488,657 1,920765 43 104/866 30,269
APRIL, 172 104,569 126,250 55 50.437 5, 157,
May 184 1361861 220,589 51 10,237 15,206
JUNE 194 115,508 111,456 57 50,701 35.722
ULY 172 123,511 183/155 53 91,873 44.679
AUGUST 193 376,584 166,132 43 21,343 52.463
SEPTEMBER 153 46.965 103,351 39 5.277 81694
OcTOBER 148 19163 62.634 46 18.185 13800
NOVEMBER 431 70.846 67,675 48 22.693 18,522
DECEMBER 149 113/428 108 537 61 31.421 35,779
MULTIPLE 2 957 11864 1 4 204
TOTAL 2,078 3,780,689 3,263,685 581 392,285 333,543
1982 :
UANUARY , 187 89,756 152,831 62 32,164 42,928
FEBRUARY 102 52.717 74,306 36 25.870 17.294
MARCH 444 50,422 91.368 31 7032 11,166
APRIL, 124 55,098 67.163 36 28.631 20.502
May 116 83,660 63.758 39 9,156 26.175
JUNE 138 78,923 65,083 45 29.245 39,608
ULY 134 70.423 87.421 38 44,606 19,134
AUGUST 104 189,659 92/091 30 141950 23,697
SEPTEMBER 72 27.359 28,208 26 51414 [581375
OCTOBER 31 37.844 33,878 43 2.830 2.727
NOVEMBER 86 1241946 155,956 38 18,900 64.881
DECEMBER 88 35,283 53,541 50 14,334 18,770
MULTIPLE 7 5.552 31875 ° ° . °
TOTAL, 1,387 901,642 970,480 474 200, 132 292,254
1983
YANUARY 90 30. 167 54,443 28 12,379 14,784
FEBRUARY 75 44,494 45,161 35 125.211 23,649
MARCH 72 22,189 46, 160 33 8.104 15,202
APRIL, 105 81,669 57,266 68 19,565 211955
May 108 35,644 65.677 67 27,487 18,396
JUNE 72 28,570 55.934 55 6.957 39.541
yULY 82 44.216 42.512 47 161868 25.673
AUGUST 69 33,668 30.635 52 34,008 221509
SEPTEMBER 63 102,322 95.818 38 44,032 121146
OCTOBER a7 19.053 27,331 40 4,510 27.831
NOVEMBER 75 84,435 324,086 56 173,073 287.024
DECEMBER 72 31,491 60.814 70 15.944 33.682
TOTAL 930 527,918 905,837 589 454,508 542,389
1984
UANUARY 140 306.915 137,248 447 48.786 53.956
FEBRUARY 35 16.612 44.851 25 10,555, 18,375
MARCH 62 75.438 83,742 48 24.527 22) 488
APRIL 76 67.593 94,089 43 33.279 37.858
may 61 13.172 14,607 39 71521 10,568
JUNE 69 50.098 67,628 39 29,699 36,626
yULY Bt 14,002 155.749 45 14,089 24.724
AUGUST 64 35,520 89.206 37 12,820 28,907
SEPTEMBER 439 24.185 39.762 48 61113 9.540
OCTOBER 36 16,427 32,315 28 17,251 26.742
NOVEMBER 40 42.077 40,178 53 13,408 16.084
DECEMBER 17 857,155 253,947 66 836,139 101,216
MULTIPLE 1 170 575, ° ° °
TOTAL 731 1,519,364 1,050,297 589 1,054, 187 387,084
1985
UANUARY 45 114,304 72.748 22 7.477 9.871
FEBRUARY 28 g.att 24,415 16 2! 162 10,926
MARCH 35 12,042 83/562 24 51212 13.358
APRIL. . 40 16.456 201100 46 91045 121706
May 37 60.646 22.683 34 21784 6.194
JUNE 32 19,266 18,655, 24 26.130 11,069
yULY 43 67.585 48,436 25 1,807 31320
AUGUST 24 7.192 13.947 27 7149 31694
SEPTEMBER 407 1, 732.030 38,919 24 192.741 14,548
OCTOBER 54 14,061 37.714 28 9.196 51722
NOVEMBER 23 8.638 26.094 13 6.057 61704
DECEMBER 125 79,646 66,653 115 30.713 44,598
MULTIPLE 1 439 283 ° ° °
TOTAL 5942, 144,118 473,619 395 310, 110 199,707
CONTINUED --

41


Maine has the largest amount of foreign-owned.U.S. agricultural land, 1,785,291
acres, or 9 percent of the privately owned agricultural land in the State and
approximately 14 percent of the reported foreign-owned agricultural land in the
United States. Most of the foreign-owned agricultural land in Maine, 1,620,931
million acres, is timber land owned by three large companies. One company owns
various percentage interests in 596,262 acres, another company owns 231,600
acres, and the third company, accounting for 793,069 acres, is a U.S. company
which is a foreign person because it passed the AFIDA threshold which defines
foreign ownership. :

Oregon, Hawaii, Louisiana, and Arizona have the next largest proportions of
reported foreign-owned agricultural land to all privately owned agricultural land
in their States. Texas has the second largest amount of foreign-owned acreage,
1,029,059 acres, but only 0.7 percent of the privately owned agricultural land in
Texas.

Characteristics of Foreign Owners

Type of Foreign Owner. Individuals are the most common type of owner. They
account for 44 percent of the owners, followed by corporations, 39 percent, and
partnerships, 13 percent (table 2). The remaining 4 percent of the owners are
estates, trusts, institutions, associations, and others such as real estate in-
vestment trusts, church groups, and foreign organizations not identifiable with
the above categories.

Corporations own 49 percent of the parcels and 80 percent of the acreage; indi-
viduals, 34 percent of the parcels and 8 percent of the acreage; partnerships, 14
percent of the. parcels and 10 percent of the acreage; and all others, 3 per-

cent of the parcels and 2 percent of the acreage. When partial interests are
taken into account, foreign-owned acreage drops from 12.5 million acres to 11.6
million, but distribution among the. types of owners remains virtually the same.

Corporate-held parcels average 1,547 acres, or 3,283 acres per holder, while
individual-held parcels average 221 acres, or 288 acres per holder. Partnership
holdings average 687 acres per parcel, or 1,225 acres per holder, and all other
holdings average 561 acres per parcel, or 699 acres per holder.

TABLE 2--U.S. AGRICULTURAL LANDHOLDINGS BY TYPE OF FOREIGN. OWNER,
DECEMBER 31, 1987

(NUMBER )
PARCELS WITH ACREAGE
OWNER OWNERS PARCELS ACRES PARTIAL
INTERESTS 1/ | EQUIVALENT 2/
INDIVIDUAL 3,438 4.477 989,390 479 863,157
CORPORATION 3,064 6,504 10,058,298 468 9,395,267
PARTNERSHIP 1,054 1,879 1,291,562 254 1,173,905
ESTATE 12 15 2,782 2 2.741
TRUST 248 300 175,769 13 165,899
INSTITUTION 3 3 ,O75 1 1,015
ASSOCIATION 1 2 5,780 2 3,988
OTHER 16 29 10,316 ° 10,316
TOTAL 7,836 13,209 12,534,972 1,219 11,616,288

4/ PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED
ONLY IN PART BY THE FOREIGN INVESTOR; THAT IS, A PERCENTAGE INTEREST LESS
THAN 100 PERCENT.

2/ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED BY
THE PERCENTAGE HELD BY THE FOREIGN OWNER.


forestry and intensive uses of land such as orchards and vegetable farms. The
different unit sizes due to differences in use may also explain part of the
acreage differences in foreign-held land among the States.

In States where foreigners own few parcels, the possibility of one or two unusual
situations prevents any generalization about concentration. |For example, one
large timber holding by a foreigner in’a State with a large number of field- -crop
farms could easily be misinterpreted to suggest that a single foreigner was
taking over the farming of the State.

Purchase Price and Value of Holdings. -As noted earlier under "Type of Foreign
Owner," corporations own 80 percent of the acreage. However, corporate purchase

price and nonpurchase price’ (estimated value) at timé. of acquisition account for
only 69 percent of the total price (table 5). The average per acre purchase:
price and nonpurchase price (estimated value) at time of acquisition was the
lowest for corporations at~$664; followed by individuals, $933; all others,
$1,273; and partnerships, $1,428. :

For recent acquisitions,: purchase price generally will be close to, .but not
necessarily the same as, current.value. As time passes, purchase price. becomes a
Poor indicator of: current: value. For this reason, reported current value by

date of acquisition was adjusted to February 1987 for all years prior to 1987
(table 6). The total ‘adjusted current value indicates a 27-percent. decrease from
the reported current value. The adjustment factor was based on the. national’

TABLE 4--FOREIGN- OWNED U.S. AGRICULTURAL LANDHOLDINGS >
“BY SIZE -OF HOLDING, DECEMBER at, 1987

size OWNERS BaRCELs ACRES
(Acres) (NUMBER) (NUMBER ) (NUMBER)
Fa : Tete ii

Less “THAN 20 962 1,038 10,305
20-59": . 1,584 1,799 55,319
60- 89 B09 1,061 62,695
100+298 1,723 2/295 303,038
300-999 1,589 2,427 887,966
1000 OR: MORE 1,169 4,589 11,215,649
TOTAL 7,836 13,209 ° 12,534,972

TABLE 5--VALUE OF U.S. AGRICULTURAL LANDHOLDINGS
BY TYPE OF FOREIGN OWNER, DECEMBER 31, 1987

ACRES ACRES
WITH PURCHASE WITH NON-
OWNERS’ PURCHASE PRICE 1/ NON- PURCHASE
OWNER (NUMBER) PRICE 1,000 PURCHASE PRICE 4/°
. REPORTED OOLLARS) PRICE (1,000
(NUMBER) . | REPORTED DOLLARS).
(NUMBER)
\
INDIVIDUAL 3,438 835,838 884,712 153,552 38,753 '
CORPORATION 3,064 8,925,413 5,889,794 1,132,885 791,531
PARTNERSHIP 1,054 55.620 1,634,653 235,942 209,671
ESTATE 12 2,082 3,286 700 59
TRUST 248 161,065 216,504 14,704 5,392
INSTITUTION 3 1,075 1,367 ° °
ASSOCIATION 1 5.780 10,400 ° °°
OTHER 16 7,767 10,414 2,549 2.122
TOTAL 7,836 10,994,640 8,650,830 1,540,332 1,047,528

A/ PURCHASE PRICE AND NONPURCHASE PRICE AT TIME OF ACQUISITION.


FOREIGN OWNERSHIP OF U.S. AGRICULTURAL LAND THROUGH DECEMBER 31, 1987, by J.
Peter DeBraal, Resources and Technology Division, Economic Research Service, U.S.
Department of Agriculture. ERS Staff Report No. AGES880314.

ABSTRACT

Foreigners owned 12.5 million acres of U.S. agricultural land as of December 31,
1987. This is slightly less than 1 percent of all privately held agricultural
land and 0.5 percent of all land in the United States. These and other findings
are based on an analysis of reports submitted in compliance with the Agricultural
Foreign Investment Disclosure Act of 1978.

Keywords: Agricultural land, foreign landownership, landholdings, land acqui-
sitions, land dispositions.

ee
* This report was prepared for limited distribution to the research community

* outside the U.S. Department of Agriculture.
a ee a

*

*

DATA BASE INFORMATION

An electronic data base containing the data used in this report is available for
sale from the Economic Research Service. This data base is in the form of an
EBCDIC physical sequential file on a 9-track, unlabeled magnetic tape. To order,
write ERS/DATA, Room 228, 1301 New York Avenue, NW., Washington, DC 20005-4788.
Specify Foreign Ownership of U.S. Agricultural Land, indicate a desired recording
density (1600 or 6250 b.p.i.), and include a check or money order payable to
"ERS/DATA" for $125.

For further information on this data base, write J, Peter DeBraal, Room 408, 1301
New York Avenue, NW., Washington, DC 20005-4788 or telephone (202)786-1425.

1301 New York Ave., NW.
Washington, DC 20005-4788 April 1988

iii


Owners of parcels with less than 1,000 acres, 71 percent of the owners, reported
acquiring 54 percent of the parcels covering only 4 percent of the forest or
forest and other nonagricultuyal lands (table 30). The remaining 29 percent. of
the owners, owning parcels with 1,000 or more acres, reported acquiring 46 per-
cent of the parcels covering 96 percent of these lands.

|

Intended Use

Reports for 91 percent of the jacres indicated no change in land use (table 31).
Intended changes to other agricultural and nonagricultural uses were reported for
holders of 8 percent of the acquired acres. Because the form asks for changes by
parcels and not acres, all of |these acres may. not be affected by the. indicated

changes. No reports on intended use were received for 1 percent of the acres
Tenure

Foreign owners directly operate 32 percent of the parcels acquired during the
period and 52 percent of the acres, whereas tenants, operate 25 percent of the

parcels and 29 percent of the acres (table 32). Managers, however, operate only
7 percent of. the parcels and 1 percent of the acres. No responses on tenure were

received for 36 percent of the parcels covering 17 percent of the acres.

TABLE 30--FOREIGN ACQUISITIONS OF U.S. FOREST AND OTHER NONAGRICULTURAL

LAND BY SIZE OF |ACQUISITION, JANUARY 1 - DECEMBER 31, 1987
|
SIZE OWNERS PARCELS ACRES, VALUE
(ACRES) REPORTING REPORTED (NUMBER ) (4,000
(NUMBER ) (NUMBER ) DOLLARS) 1/
|
LESS THAN 20 4 4 30 32
20-59 3 3 125 204
60-99 3 3 230 184
100-299 6 6 1,123 401
300-399 4 5 2,297 776
1000 OR MORE 8 18 94,374 20,409
TOTAL 28 39 98,179 22,006

4/ VALUE IS PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE).

TABLE 31--INTENDED USE OF’ U.S. AGRICULTURAL LAND ACQUISITIONS OF FOREIGN OWNERS,

JANUARY 1 - DECEMBER 31, 1987
(NUMBER )
ITEM No duanice OTHER OTHER NON- | NO REPORT TOTAL

AGRICULTURE | AGRICULTURE

INDIVIDUAL:
PARCELS REPORTED 43 6 1 2 52
ACRES 16,440 865 40 124 17,469
ORGANIZATION:
PARCELS REPORTED 147 25 25 3 200
ACRES 278,040 4,073 22,431 2,800 307,344
TOTAL:
PARCELS REPORTED 190 a4 26 5 252

ACRES 724-480 4,938 22,471 2,924 324,813

34



TABLE 13--U.S. FOREST AND OTHER NONAGRICULTURAL
LANDHOLDINGS
BY COUNTRY|OF FOREIGN OWNER, DECEMBER 31, 1987
(NUMBER)

COUNTRY OWNERS PARCELS ACRES
ARGENTINA 2 2 73
AUSTRALIA 3 4 566
AUSTRIA 6 16 15,598
BAHAMAS. 1 1 7,200
BELGIUM 2 2 160
BELIZE 1 2 102
BERMUDA 7 13 58.376
BRITISH VIRGIN ISLANDS 4 6 20,237
CANADA, ‘ 214 260 913,134
CAYMAN ISLANDS 3 4 2,210
DENMARK 3 4 1,676
EGYPT 2 2 85
FRANCE 7 10 5,980
GERMANY (WEST) 128 179 141,058
GREECE 3 3 118.
HONG KONG * 2 6 4,599
INDIA - 1 1 831
INDONESIA 1 1 20
TRAN: 3 3 243
ITALY 1 1 80
JAPAN ' 1 1 200
JORDAN 3 4 204
KOREA (SOUTH) 1 1 353
LEBANON 2 2 B84
LIBERIA 2 2 4,280
LIECHTENSTEIN 8 10 13,580
LUXEMBOURG 1 1 250
MEXICO 2 2 136
NETHERLANDS, 4 7 4,897
NETHERLANDS ANTILLES 23 33, 44,012
PANAMA 4 7 15,288
PHILIPPINES 3 3 146
ST. VINCENT 1 1 20
SAUDI ARABIA 3 3 428
SWEDEN ~:° ‘ 1 1 4
SWITZERLAND 15 20 10,001
SYRIA 2 2 147
TURKS ISLANDS 2 2 1,275
UNITED KINGDOM 28 37 60,023
VENEZUELA J Ww 1,852
VIETNAM 1 1 152
MULTIPLE 6 6 4,621
THIRD TIER 2 aat 194,840

SUBTOTAL 1/ S18 1,124 1,526,155
US/AUSTRALIA 1 1 315
US/AUSTRIA 2 3 360
US/BAHAMAS 1 2 3,384
US/BELGIUM 3 6 5,057
US/BERMUDA 4 14 9,235
US/BRITISH VIRGI

ISLANDS 1 5 9,586
US/CANADA 33 371 517,436
US/DENMARK 2 2 386
uS/EGYPT 1 1 155
US/FINLAND 2 WwW 3,047
US/FRANCE 10 68 143,727
US/GERMANY (WEST) 15 32 10,851
US/JAPAN 5 W B,474
US/KUWAIT 1 1 772
US/LIBERIA 4 4 3,520
US/LIECHTENSTEIN 2 3 6,648
US/LUXEMBOURG 1 1 8
US/NETHERLANDS 10 30 65,210
US/NETHERLANDS ANTILLES 8 19 2,204
US/NORWAY. ot 1 25
US/PANAMA 6 g 3,983
US/SAUDI. ARABIA 1 18 3,193
US/SPAIN 1 1 60
US/SWITZERLAND 10 18 42,064
US/UNITED KINGDOM 58 263 3,202,192
US/VENEZUELA 3 3 1,787
US/MULTIPLE 4 14 161,085
US/THIRD TIER 1 98 139/341

SUBTOTAL 2/ 191 1,010 4,344,105
TOTAL 709 2,134 5,870,260
FOREIGN SHAREHOLDERS.

2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN
SHAREHOLDERS

22




Most of the acres acquired during this period were in the West--45 percent of the
acres. Foreign persons from Mexico not affiliated with a'U.S. corporation
acquired 27 percent of these acres, followed by foreign persons from West Germany
with 26 percent, and U.S./Netherlands corporations with 22 percent.
Northeast, foreign persons from Canada acquired 53 percent of the acres.

In the

I
TABLE 24--FOREIGN OWNERSHIP OF U.S. AGRICULTURAL LAND ACQUISITIONS BY U.S. REGION,

UANUARY 1. - DECEMBER 31, 1987
| (NUMBER)
i
SOUTH | WEST NORTHEAST NORTH CENTRAL
COUNTRY
PARCELS ACRES PARCELS ACRES PARCELS ACRES PARCELS ACRES
REPORTED REPORTED REPORTED REPORTED

AUSTRIA 3 256 3 10,601 ° ° 1 160
BERMUDA ° | 0 1 295 ° ° ° °
BRAZIL ° \ ° ° ° ° ° 1 494
CANADA 4 1,672 3 2,906 13 70,049 ° °
CAYMAN ISLANDS ° ; 0 2 1,040 ° ° ° °
DENMARK ° jy 0 ° ° ° ° 1 136
FRANCE ° ° 1 4 1 192 ° °
GERMANY (WEST ) 16 663 10 14,005 2 1,031 2 735
GREECE ° if ° ° ° ° ° 1 277
TRAN ° | 0 ° ° ° ° 1 125
ITALY 1 1, 140 1 20 ° ° ° °
UAPAN 3 179 2 1,663 ° ° ° °
KOREA (SOUTH) 1 91 ° ° ° ° ° °
MEXICO 5 1.116 2 39,110 ° ° ° °
NETHERLANDS 6 | 86 1 160 ° ° 2 47s
NETHERLANDS ANTILLES : ° ° 1 13 ° ° ° °
PANAMA 1 1,367 ° 0 ° ° ° °
PORTUGAL 1 | 20 ° ° ° ° ° °
SWEDEN ° ° 1 640 ° ° ° °
SWITZERLAND 13 18,813 ° a) 1 130 ° °
TAIWAN ° ° ° ° ° ° 1 21
TRINIDAD & TOBAGO 1 6 ° ° ° ° ° °
UNITED KINGDOM ° ° ° ° 3 6,707 4 550
MULTIPLE 1 103 ° ° ° ° ° °
THIRD TIER 1 1 ° ° ° ° 2 540

SUBTOTAL 4/ 57 33,288 28 70,464 20 78,109 16 3,519
US/AUSTRIA 1 573 ° ° ° ° ° °
US/BAHAMAS " ° ° 1 9,189 ° ° ° °
US/BARBADOS ° ° 2 415 ° ° ° °
US/BELGIUM ° ° ° ° ° ° 1 14
US/BERMUDA 1 14 ° ° ° ° ° °
US/CANADA 9 1.365 4 155 5 8,026 3 359
US/EGYPT 1 809 ° ° ° ° ° °
US/FRANCE 9 3,402 1 60 ° ° ° °
US/GERMANY (WEST ) 8 5,528 1 24,279 ° ° 1 40
US/HONG KONG 1 | 140 ° ° ° ° ° °
US/TRELAND 1 2.174 ° ° ° ° ° °
US/JAPAN 6 2,766 1 500 ° ° 6 370
US/KUWAIT ° ° 1 5,300 ° ° ° °
US/MEXICO 1 381 ° ° ° ° ° °
US/NETHERLANDS ° ° 3 32,891 ° ° 14 510
US/NETHERLANDS ANTILLES 2 17,738 3 256 ° ° 1 440
US/NEW ZEALAND 2 332 ° ° ° ° ° °
US/PANAMA 1 25 ° ° ° ° ° °
US/SAUDI ARABIA 4 3,647 ° ° ° ° 1 304
US/SWITZERLAND 7 3,164 6 589 ° ° 2 454
US/UNITED KINGDOM 1 2,077 5 1,843 2 1,395 5 7.915

SUBTOTAL 2/ 65 4,135 25 75,477 7 9,421 34 10,406
TOTAL ALL

LAND ACQUISITIONS 122 77,423 53 (145,941 27 87,530 50 13,919

4/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

2/ TOTAL INTERESTS OF U.S.

30

CORPORATIONS WITH FOREIGN SHAREHOLDERS.


TABLE 38--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY COUNTRY OF FOREIGN OWNER, BY U.S. REGION,
VANUARY 1 - DECEMBER 31, 1987
(NUMBER)
souTH West NORTHEAST NORTH CENTRAL
COUNTRY
PARCELS ACRES PARCELS ACRES PARCELS ACRES PARCELS ACRES
REPORTED REPORTED REPORTED REPORTED

ARGENTINA ° ° ° ° 1 20 ° co
BAHAMAS 1 aaa ° ° ° ° ° °
BRITISH VIRGIN ISLANDS 1 19 ° ° ° ° ° oO
CANADA 7 1.544 3 2.400 18 173,404 ° °
GERMANY (WEST) 8 1494 6 91259 3 1,034 ° °
HONG KONG 2 27 ° ° °. ° ° °
ITALY 1 4,081 ° ° ° ° ° °
JORDAN 2 248 ° ° ° ° ° °
LIECHTENSTEIN 2 1,062 ° ° ° ° ° °
MEXICO 5 21670 ° ° ° ° 1 8
NETHERLANDS ° ° 1 5 4 213 ° °
NETHERLANDS ANTILLES 5 1,447 7 1,633 2 264 ° °
PANAMA 1 1,367 5 15,500 ° ° ° °
SWEDEN 1 Ss ° ° ° ° ° oO
SWITZERLAND an) 621 ° ° 6 1,061 ° °
TANZANIA 1 10,337 oO. ° ° ° ° °
TURKS ISLANDS ° ° ° ° 1 341 ° °O
UNITED KINGDOM ° ° ° oO 1 17 2 39
VENEZUELA 1 160 ° ° 1 35 ° °
MULTIPLE 1 2.518 ° ° ° ° ° °
THIRD TIER 3 560 ° oO ° ° oO oO

SUBTOTAL 1/ 54 28,745 22° 28,797 37 176,386 3 a7
US/BAHAMAS ° ° 2 1,040 ° ° ° °
US/CANADA 2 15 3 790 10 2,086 ° °
US/CAYMAN ISLANDS 1 2,205 Oo ° ° ° ° °
US/EGYPT q 809 ° O° ° ° ° °
US/FRANCE 5 297 ° ° 9 5.305 ° °
US/GERMANY (WEST) 3 616 ° co oO ° ° °o
US/JAPAN ° ° 1 640 ° ° ° °
US/LIBERIA 1 498 ° ° ° O° ° °
US/LIECHTENSTEIN 2 274 ° ° ° ° ° °
US/NETHERLANDS ANTILLES 1 7 ° ° ° ° ° °
US/PANAMA 10 ge6 ° ° ° ° Oo oO
US/SWITZERLAND 27 20,485 2 859 9 6,740 ° °
US/UNITED KINGDOM 3 83 15 1,610 19 1,305 5 7,655
US/VENEZUELA 1 5 ° ° ° ° °

SUBTOTAL 2/ 57 26,257 23 4,639 47 18,436 5 7.655
TOTAL ALL

LAND DISPOSITIONS att 55,002 45 33,436 84 191,822 8 7,702

4/ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.
2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

Trends

The data for 1987 are skewed toward the first part of the year, whereas the data
for 1981 through 1986 are generally more evenly distributed throughout the year
(table 40). This has also been the case for current year data in past AFIDA
reports. This can be explained primarily in terms of the AFIDA reporting
requirements which allows persons 90 days to report their transactions to USDA.
Consequently, not all of the transactions occurring in the 90 days preceding the
closing date of the report are reported.to USDA by ‘that date. Some of the
skewing is also due to reports that are not timely filed and/or completed by the
closing date. The foregoing discission also means that the current data, and in
some instances data for prior years, are understated and should be regarded as
preliminary. In addition, unlike the net data in the acquisitions section, the
acquisitions figures here are gross figures; that is, total acquisitions without
reductions for dispositions.

39


Tenure Change

No tenure. changes were reported for 43 percent of the parcels, or 45 percent of
the acres (table 17). Reports for 32 percent of the parcels containing 27
percent of the acres indicate a new tenure. arrangement on at.least part of the
land. The number of acres affected by the:new tenure arrangements are not re-
ported. Thus, the acreage may be overstated; that is, all of the acres in these
parcels are not necessarily affected by new tenure arrangements. Nevertheless,
reports for 0.3 percent of the parcels, accounting for 0.4 percent of the acres,
indicated that some of the tenure arrangements would remain the same and. some
would change. No responses on tenure changes were received for 25 percent! of the
parcels containing 28 percent of the acres.

In the South, no changes in tenure were reported for virtually the same number of
parcels and acres as were reported for parcels and acres with changes--40 per¢ent
of the parcels covering 35 percent of the acres were reported as having no
changes and the same percentages were reported for new tenure arrangements.. In
the West; North Central; and Northeast, however, there were more reports. for‘
parcels and acres with no changes in tenure than there were reports for new
tehure arrangemerits.

Acquisitions
The. data in this: section are net.figures for U.S. agricultural land acquired by
foreign persons from January 1 through December 31, 1987; that is,’ the total
reported acquisitions for the period less dispositions data for lands that.were
both acquired and disposed during calendar year 1987.

Foreigh persons reported that they acquired 252 parcels of U.S. agricultural land
covéring 324,813 acres from January 1 through December 31, 1987 (tables 18 and
19). Included in these acquisitions data are reports filed by U.S. entities that
became foreign during the period, This change occurs when a significant interest
or substantial control in a U.S. entity is subsequently acquired by a foreign
person. Consequently, all of the reported acres are not necessarily recent land
purchases. These acquisitions could include land held for any length of time by
a U.S. entity which recently came within the definition of a foreign person under
the act.

Thé ‘reported acquisitions data should be regarded as preliminary in that they
understate to some degree the total acreage acquired by foreign persons during
the reporting period. Because foreign persons have a statutory 90 days within
which to report their acquisitions, not all of the acquisitions acquired in the
90 days preceding the December 31, 1987, closing date of this report were re-
ceived for processing by USDA. Therefore, a number of reports for October,
November, and December are not included in this report. Table 40 shows that the
distribution of acquisition dates is skewed toward the first three-quarters of
the year. A further understatement of the acreage acquired by foreign persons
during the reporting period may result from transaction reports that are not
timely filed and/or completed by the closing date of this report. Consequently,
such reports would not have been processed for inclusion in'this report.

Concentration of Foreign Acquisitions of U.S. Agricultural Land

Sixty-five percent of the acres acquired during 1987 were in Maine, Colorado, New
Mexico, and Texas (table 18). Forty-five percent of the acquisitions are
concentrated in the West (table 24).

25


TABLE 1--U.S. AGRICULTURAL LANDHOLDINGS OF FOREIGN OWNERS BY STATE, DECEMBER 31, 1987

TOTAL LAND PRIVATELY OWNED FOREIGN-OWNED |PROPORTION OF
AREA AGRICULTURAL AGRICULTURAL FOREIGN-OWNED TO
STATE OF STATE 4/ LAND 2/ : LAND PRIVATELY OWNED
(1,000 ACRES) (1,000 ACRES) (ACRES) AGRICULTURAL LAND
(PERCENT)
ALABAMA 32,491 29,467 266,675 0.9
ALASKA 365,333 400 416 a
ARIZONA 72,645 . 10,983 272,696 2.5
ARKANSAS 33,330 28,834 155,255 5
CALIFORNIA 100,031 47,353 922,680 1.9
COLORADO 66,301 37,527 508 , 880 1.4
CONNECTICUT 3,118 2,267 1,120 NEG.
DELAWARE 1,237 1,064 5,701 5
FLORIDA 34,658 26,529 532,917 2.0
GEORGIA 37,156 33,253 607,260 1.8
GUAM 135 85 336 4
HAWALT 4,112 1,992 52,860 2.7
IDAHO 52,744 15,166 27,235 +2
ILLINOIS 95,613 32,926 132,576 . 4
INDIANA 22,996 20,909 43,634 +2
IOWA 35,818 33,912 32,651 :
KANSAS 52,338 49,914 67,491 :
KENTUCKY 25,988 22,915 69,666 3
LOUISTANA 28.494 26,463 659,268 2.5
MAINE 19,837 18,829 1,785,291 9.5
MARYLAND 6.296 5,146 50.401 1.0
MASSACHUSETTS 5,008 3,922 1,703 NEG.
MICHIGAN 36,451 26,117 197,956 8
MINNESOTA 50,911 36,204 241,304 7
MISSISSIPPI 30,229 26.629 435,388 1.6
MISSOURI 44,125 40,025 59,923 :
MONTANA 93,048 84,189 442,484 8
NEBRASKA 49,052 45,397 69,619 +2
NEVADA 10,332 7,586 45,507 6
NEW HAMPSHIRE 5,756 4,682 86,297 1.8
NEW JERSEY 4,779 2,894 26,509 9
NEW MEXICO 17,654 34,451 558.258 1.6
NEW YORK 30,321 24,257 351,183 1.4
NORTH CAROLINA 31,260 27.3214 262,808 1.0
NORTH DAKOTA 44,352 39,617 30,043 :
OHTO 26,243 22,979 156,204 7
OKLAHOMA 43,939 38,875 29,186 a
OREGON . 61,558 25,685 874,345 3.4
PENNSYLVANIA 28,728 22,380 165,614 7
PUERTO RICO. NA NA 1,448 NEG.
RHODE ISLAND 675 439 ° °
SOUTH CAROLINA 19,330 15,932 211,693 1.3
SOUTH DAKOTA 48,609 38,241 43,647 a
TENNESSEE 26,339 22,901 73,924 3
TEXAS 167,691 156,768 1,029,059 7
UTAH 52.527 10,779 67,310 6
VERMONT 5,935 5.251 111,933 2.1
VIRGINIA 25,410 21,499 119,584 6
WASHINGTON 42,567 23,028 442,994 1.9
WEST VIRGINIA 15,436 13,744 91,996 “7
WISCONSIN 34,833 27,637 19,708 :
WYOMING 62,073 26,142 92,336 4
TOTAL 2,265,242 1,290,302 . 12,534,972 1.0

41/1980 LAND AREA FROM GEOGRAPHY DIVISION, CENSUS BUREAU.

2/ .PRIVATELY HELD LAND BASED ON T. FREY, UNPUBLISHED DATA, ECON. RES. SERV., U.S.
DEPT.AGR., 1979. ESTIMATE OF TOTAL LAND LESS PUBLIC, INDIAN, TRANSPORTATION, AND
URBAN LANDS.» INCLUDES FOREST LAND, PASTURELAND, CROPLAND, RANGE, AND MISCELLANEOUS.

NEG. = NEGLIGIBLE

NA = NOT AVAILABLE


Size of Holding. Holdings are concentrated with smaller acreage held by indi-
viduals and larger acreage held by corporations (tables 2 and 3). Owners of
parcels with less than 300 acres (65 percent of all of the foreign owners) hold
only slightly more than 3|/percent of the land and owners of parcels with 300
acres or more (the remaining 35 percent) hold more than 96 percent of the land
(table 4). Part of this goncentration may be explained by the definition of
agricultural land, which includes extensive uses of land such as ranching and

TABLE 3--FOREIGN OWNERS OF U.S. AGRICULTURAL LANDHOLDINGS
BY STATE, DECEMBER 31, 1987
(NUMBER )
STATE INDIVIDUAL ORGANIZATION
AND U.S.
TERRITORY
PARCELS ACRES PARCELS ACRES

ALABAMA 25 1,275 361 265,400
ALASKA ° ° 2 416
ARIZONA 35 11,929 221 260,767
ARKANSAS 65 29,874 108 125,381
CALIFORNIA 247 82,729 1,014 839,951
COLORADO 135 127,858 201 381,022
CONNECTICUT 6 308 14 B12
DELAWARE 6 1,587 10 4,114
FLORIDA 459 32,923 791 499,994
GEORGIA 163 54,878 660 552,382
GUAM oO ° 2 336
HAWAIT 14 543 32 52,317
IDAHO 17 6,693 29 20,542
ILLINOIS | 52 11,482 254 121,094
INDIANA 33 5,418 ait 38,216
IOWA 68 16,809 61 15,842
KANSAS 22 4,382 70 63,109
KENTUCKY 38 6,895 106 62,771
LOUISIANA 14 8.459 126 650,809
MAINE 29 19,623 64 1,765,668
MARYLAND 54 10,157 128 40,244
MASSACHUSETTS 2 252 5 1,451
MICHIGAN 58 5,384 63 192,572
MINNESOTA 46 17,205 93 224,099
MISSISSIPPI 7 993 212 434,395
MISSOURI 31 8,867 96 51,056
MONTANA 70 38,603 94 403,881
NEBRASKA 9 2,703 28 66,916
NEVADA 3 94 15 45,413
NEW HAMPSHIRE 8 1,442 27 84,855
NEW JERSEY 13 1,389 80 25,120
NEW MEXICO 19 3,429 66 554,829
NEW YORK 323. 51,284 162 299,899
NORTH CAROLINA 42 9,629 280 253,179
NORTH DAKOTA 48 14,256 20 15,787
OHIO 44 9,637 357 146,567
OKLAHOMA 8 1,032 62 28,154
OREGON 33 19,030 98 855,315
PENNSYLVANIA 30 2,528 76 163,086
PUERTO RICO 5 634 6 B14
SOUTH CAROLINA 34 8,879 473 202,814
SOUTH DAKOTA at 12,190 38 31,457
TENNESSEE 82 19,587 73 54,337
TEXAS 624 176,412 1,015 852,647
UTAH 515 21,469 27 45,841
VERMONT ‘472 33,357 206 78,576
VIRGINIA 124 26,900 228 92,684
WASHINGTON 218 53,208 389 389,786
WEST VIRGINIA 18 3,288 32 88,708
WISCONSIN 68 11,227 31 8.481
WYOMING 3 660 15 91,676

TOTAL 4,477 989,390 8,732 11,545,582

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