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 73 percent of the

acreage. Corporate purchase price and nonpurchase price
(estimated value) at time of acquisition account for 70 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 $585; followed by
partnerships, $691; individuals, $892; and all others, $1,160.

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 January|/1991 for all years prior to 1991 (table
6). The total adjusted|current value indicates a 7-percent
decrease from the reported current value. The adjustment factor

TABLE 4--FOREIGN-OWNED U.S. AGRICULTURAL LANDHOLDINGS

BY SIZE jor HOLDING, DECEMBER 31, 1991
|
SIZE OWNERS PARCELS ACRES
(ACRES) (NUMBER) (NUMBER) (NUMBER )
|
LESS THAN 20 B15 857 8.533
20-59 1,288 . 1,472 44,176
60-99 689 829 53,481
100-299 1,675 2.120 295,529
300-999 1,604 2,436 892,097
1000 OR MORE 1,227 5,008 13,514,685
TOTAL 7,298 12,722 14,808,501

TABLE 5--VALUE OF U.S. AGRICULTURAL LANDHOLDINGS

BY TYPE OF jroreren OWNER, DECEMBER 31, 1991
ACRES ACRES
WITH PURCHASE WITH NON-
OWNERS PURCHASE PRICE 1/ NON- PURCHASE
OWNER (NUMBER) PRICE (4,000 PURCHASE PRICE 4/
REPORTED DOLLARS) PRICE (4,000
(NUMBER) REPORTED DOLLARS)
(NUMBER)
INDIVIDUAL 2,863 803,997 802,624 137,914 37,788
CORPORATION 3,090} 8,682,414 6,144,246 2,079,956 1,023,943
PARTNERSHIP. 1,072 | 2,660,065 1,778,673 199,003 197,882
ESTATE 10 1,887 3,239 700 59
TRUST 244 203,604 245,669 21,559 8,630
INSTITUTION 3 1,075 1,367 ° °
ASSOCIATION 4 5.780 10,400 ° °
OTHER 18 7,943 13,116 2,604 2,031
TOTAL 7,298 | 12,366,765 6,999,334 2,441,736 1,270,333

4/ PURCHASE PRICE AND) NONPURCHASE PRICE AT TIME OF ACQUISITION.

10



TABLE 23--U.S. AGRICULTURAL LAND ACQUISITICNS BY COUNTRY OF FOREIGN OWNER,

UANUARY 1 - DECEMBER 31, 1991
OWNERS PARCELS ACRES VALUE
COUNTRY REPORTING | REPORTED (NUMBER ) (1,000
(NUMBER ) (NUMBER) DOLLARS) 4/

AUSTRALIA 1 1 130 65
BERMUDA 1 2 139 5,330
BRAZIL 2 2 286 672
CANADA 16 17 5.716 3,928
FRANCE 3 5 422 286
GERMANY 33 4a 18,704 25,061
ITALY 1 1 175 800
UAPAN 4 4 4,125 7,714
KOREA (SOUTH) 1 1 931 5,500
MEXICO 2 2 338 362
NETHERLANDS 4 5 2,649 19,332
NETHERLANDS ANTILLES 2 2 373 1,227
NORWAY 1 1 24 62
PHILIPPINES 1 1 255 375
PORTUGAL 1 1 430 200
SAUDI ARABIA 2 2 169 2,283
SPAIN 3 3 538 1.728
SWITZERLAND 8 9 1,123 1.145
TAIWAN 1 1 580 500
THAILAND 1 1 12 16
UNITED KINGDOM 8 18 13,610 5,840
URUGUAY 1 1 18 275
VENEZUELA 1 4 1,586 4,870
MULTIPLE 1 2 323 989
THIRD TIER 5 8 13,330 13,564

SUBTOTAL 2/ 104 138 66,043 102,154
US/BELGIUM 1 8 915 628
US/BERMUDA 1 1 80 85
US/BRITISH VIRGIN

ISLANDS 2 2 310 5,850
US/CANADA 12 17 5,691 6,579
US/CHINA - 1 1 571 200
US/DENMARK 1 1 13 110
US/FRANCE 7 83 28,560 16,266
US/GERMANY 5 6 697 2,191
US/HONG KONG 1 1 720 5,500
US/INDONESIA 2 3 347 1.381
US/ITALY 1 1 199 438
US/JUAPAN 16 17 64,660 103,172
US/LIBERIA 1 1 sO 5,300
US/LUXEMBOURG 1 2 82 33
US/MEXICO 5 6 1,237 5,269
US/NETHERLANDS 5 5 1,748 4,199
US/NETHERLANDS ANTILLES 1 1 720 156
US/PERU 1 1 100 280
US/SAUDI_ ARABIA 1 2 1,556 3,270
US/SWEDEN 1 1 531 93
US/SWITZERLAND 7 14 45,544 17,869
US/UNITED KINGDOM 5 13 6,404 4,051
US/VENEZUELA 4 1 318 3,400
US/MULTIPLE 1 2 72 220
US/THIRD TIER ! 2 140 512

SUBTOTAL 3/ Bt 189 161,262 197,052
TOTAL ALL

LAND ACQUISITIONS 185 327 227,305 299,206

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

2/ TOTAL INTERESTS EXCLUDING U.S.

SHAREHOLDERS.

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

31


Acquisitions

Foreign persons reported that they had acquired 327 parcels of
U.S. agricultural land covering 227,305 acres during January 1-
December 31, 1991 (tables 18 and 19). Included in these acquisi-
tions data are reports filed by U.S. entities that became foreign
during the period. This change occurs when a significant inter-
est 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 ac-
quisitions could include land held for any length of time by a
U.S. entity that recently came within the definition of a foreign
person under the act.

The reported acquisitions data should be regarded as preliminary
in that they understate the total acreage acquired by foreign
persons during the reporting period. Because foreign persons
have a statutory 90 days within which to report their acquisi-
tions, not all the acquisitions acquired in the 90 days preceding
the December 31, 1991, closing date of this report were received
for processing by USDA. Therefore, a number of reports for
October, November, and December are not included in this report.
A further understatement of the acreage acquired by foreign
persons during the reporting period may result from 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.

TABLE 18--U.S. AGRICULTURAL LAND ACQUISITIONS OF FOREIGN OWNERS BY STATE,

JANUARY 1 - DECEMBER 31, 1991
STATE VALUE STATE VALUE
AND U.S. ACRES (1,000 AND U.S. ACRES (1,000
TERRITORY (NUMBER ) DOLLARS) TERRITORY (NUMBER ) DOLLARS)
a i
ALABAMA 17,403 12,260 MISSOURT 1,990 975
ARIZONA 80 384 MONTANA 2,578 1,594
ARKANSAS 7,888 5,034 NEBRASKA 3,680 687
CALIFORNIA 2,827 23,916 NEVADA 6,720 672
COLORADO AIT aa3 NEW JERSEY 63 3,100
FLORIDA 2,326 14,040 NEW MEXICO 760 1,078
GEORGIA 16,724 11,498 NEW YORK 4a2 356
HAWAIT 3,042 83,473 NORTH CAROLINA 110 182
ILLINOIS 4,131 11,268 OHIO 2,874 5,767
INDIANA 319 1,266 OKLAHOMA 1,053 357
IOWA 630 438 OREGON 6,702 7,312
KANSAS 164 88 PENNSYLVANIA 41,445 17,528
KENTUCKY aaa 1,323 SOUTH CAROLINA 3,853 5,156
LOUISIANA 10,271 5.684 TENNESSEE 3,965 4,184
MAINE 61,154 17,831 TEXAS 9,721 24,940
MARYLAND 1,526 5,782 VERMONT 266 202
MICHIGAN 10 325 VIRGINIA 629 1,769
MINNESOTA 56 153 WASHINGTON 2,736 10,396
MISSISSIPPI 43,057 12,131 WISCONSIN 597 460
WYOMING 4,652 5,124
TOTAL 227,305 299,206

i1/ VALUE IS PURCHASE PI

27

RICE OR NONPURCHASE PRICE (ESTIMATED VALUE).


Corporations account for the largest number of owners reporting
acquisitions of forest |or forest and other nonagricultural land--
59 percent of the owners, 71. percent of the parcels, and 92
percent of the acres (table 29). Twenty-eight percent of the
owners were individuals who reported acquiring 10 percent of the
parcels, but only 2 percent of the acres.

Owners of parcels with |less than 1,000 acres, 72 percent of the
owners, reported acquiring 42 percent of the parcels covering
only 5 percent of the acreage in forest or forest and other
nonagricultural lands (table 30). The remaining 28 percent of
the owners, owning parcels with 1,000 or more acres, reported
acquiring 58 percent of the parcels covering 95 percent of these
lands.

Intended Use

Reports for 94 percent jof the acres indicated no change in land
use (table 31). Intended changes to other agricultural and
nonagricultural uses were reported for holders of 5 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 lreports on intended use were received for

0.2 percent of the acres.

TABLE 29--U,.S. FOREST AND OTHER NONAGRICULTURAL LAND ACQUISITIONS

BY TYPE OF FOREIGN OWNER, JANUARY 1 ~ DECEMBER 31, 1991
(NUMBER )
PARCELS WITH
OWNER OWNERS PARCELS ACRES PARTIAL ACREAGE
REPORTING| REPORTED INTERESTS EQUIVALENT 2/
| REPORTED 1/
INDIVIDUAL lo 13 2,142 ° 2,142
CORPORATION 19 55 914,725 4 90,522
PARTNERSHIP 3 9 4,939 ° 4,939
TRUST 1 1 1,065 ° 1,065
TOTAL a2 78 99,874 4 98,668
|

4/_ 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 PERCEN
2/ ACREAGE EQUIVALENT EQUALS THE TOTAL ACREAGE REPORTED MULTIPLIED

BY THE PERCENTAGE HELD BY THE FOREIGN OWNER.

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

LAND BY SIZE OF ACQUISITION, JANUARY 1 - DECEMBER 31, 1991
SIZE OWNERS PARCELS ACRES VALUE
(ACRES) REPORTING REPORTED (NUMRER ) (1,000
(NUMBER ) (NUMBER) DOLLARS) 1/
|

LESS THAN 20 2 2 23 a1
20-59 3 3 20 86
60-99 6 8 459 2,290
100-299 6 10 843 1,026
300-899 6 10 3,468 2,158
1000 OR MORE 9 as 94,988 35,527
TOTAL 32 78 99,871 41,128

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

36



Under the regulations, |the reporting entity (other than an
individual or government), whether domestic or foreign, is
required to provide information (names, addresses, citizenship,
and the nature of the entity, if any) on the second-tier invest-—
ments; that is, all- foreign persons ‘holding a significant inter-
est 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, Germany, the report is
processed as "Germany. 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 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 substan-
tial. 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 substantial control is
processed as "U.S. /Canada. " Where foreign shareholders with a
significant interest oF 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 pro-
cessed 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 stand-
point of the U.S. entity rather than that of the foreign share- —
holder.

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 to be considered part of one parcel. This parcel con-
cept is intended to ease the reporting burden.

All 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 that own other lands. - These
entities are treated as separate owners.


TABLE 40--ACQUISITIONS AND DISPOSITIONS OF FOREIGN-OWNED U.S. AGRICULTURAL LAND, BY DATE
UANUARY 1981 - DECEMBER 1991--CONTINUED

]
ACQUISTTTONS . DISPOSITIONS,
DATE

PARCELS ACRES VALUE PARCELS ACRES VALUE

REPORTED (NUMBER) | (1,000 REPORTED (NUMBER) | (1,000 _

(NUMBER) DOLLARS) 1/ (NUMBER) DOLLARS)1/

1991 :
YANUARY 40 8,840 2a 4,4B4 4,849
FEBRUARY 22 6.493 33 4.678 10.516
MARCH 38 29,174 19 106,042 16,607
APRIL, 21 46.207 39 49,964 17,832
MAY 39 18,095 22 5,004 41931
JUNE 34 74.605 33 189,898 29,924
vULY 21 72.976 12 51936 6.777
AuGusT 30 8.704 24 2374 1,759
SEPTEMBER 14 51539 9 1,265 880
OCTOBER 15 6.071 20 4.045 3,008
NOVEMBER 5 589 4 31558
DECEMBER 1 12 3 49 131
TOrAL 327 227,305 299.218 249 377,294 88,486

i
4/ VALUE 1S PURCHASE PRICE OR NONPURCHASE PRICE (ESTIMATED VALUE) AT TIME OF ACQUISITION.

Figure 3

Trends in Foreign Ownership of Agricultural Land by Type of Use, 1981-91

Million acres:
15
144
13 4
125
11 Forest
10 4
94
8-
7 Nonag
7 Other ag
Pasture
Crop

1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991

Program Costs and Penalties

Administration of the AFIDA program for obtaining and analyzing
the data required an estimated 11.3 staff-years at a cost of
approximately $431,000 to USDA for the past year, of which the
Agricultural stabilization and Conservation Service contributed
approximately 9.6 staff-years at an estimated cost of $376,000.
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 Public Affairs.

During fiscal year 1991), USDA assessed 90 penalties for late
filings, totaling $40,470.

46



TABLE 10--ACQUISITIONS AND DISPOSITIONS OF FOREIGN-OQWNED U.S. AGRICULTURAL LAND, BY DATE
: . Yn JANUARY "1981" - DECEMBER 1991
: heaurstrrows DISPOSITIONS
DATE - 7 ~
PARCELS ACRES |, VALUE PARCELS ACRES VALUE
REPORTED (NUMBER) (1.000 REPORTED (NUMBER) (4,000,
(NuMBER) }/ , JOOLLaRS)4/ (NUMBER), “J DOLLARS) 1/
1981
UANUARY 154 67,016 105,977 53 44,136 29,207
FEBRUARY 152 44,004 87,272 34 10.826 47,039
MARCH 283 1,920,853 aa 105,183 31,220
APRIL , 174 . 1261616 55 50,437 35,157
MAY 186 222.936 85 101853 17,352
JUNE ‘195 59 50.728 35.889
vuLY 176 “8a 61.558 41.688
auGusT 196 45 26.419 58/695
SEPTEMBER 157 40 5.287 81718
OCTOBER 155 46 18.185 13,800
NOVEMBER 155 50 23,154 | 481752
DECEMBER 149 Gt 31,424 38.778
MULTIPLE 7 1 4 204
TOTAL 2.196 | 3,827,216 3, 284.692 597 438,198 + 343,560
1982
UANUARY 191 90.472 153,854 63 92,935 fia, 128
FEBRUARY 104 52.752 74,934 36 25.870 47,294
MARCH 142 50.444 911443 33 71042 11,202
APRIL 124 55,098 67.163 36 28.631
MAY 118 83,935 64,285 "39 9.156
JUNE 139 78;924 65,084 a7 29,471
vULY 135 To.adt 87.591 39 1,608
AUGUST 107 191,694 96.726 31 15,860
SEPTEMBER 72 27.359 29.208 26 5.414
OCTOBER 94 18,348 34,300 | . 43 2.830
NOVEMBER 88 125.187 157.806 38 48,900:
DECEMBER 91 36.314" 55.668 55 15,318.
MULTIPLE 7 5.559 31A75 ° °
TOTAL 1,409 906,520 1,274 486 203.035 296,234
1983 " :
YANUARY 95 30.344 55.392 28 12,379 14,784
FEBRUARY 76 44,525 415 ,'561 35 125,211 237649
MARCH 78 22,281 4G .234 33 8, 104 15,202
APRIL 108 86,830 57.898 70 20,300 22/575
MAY 114 36.746 ‘6a 27,497 18,420
UNE 14 29.725 5B [7.086 413622
vULY 86 461514 52 18,655 27.687
‘AUGUST 70 33,685 | 53 34,153 23,677
SEPTEMBER Tt 104,823 38 14,092 12,146
OCTOBER 48 19,091 a4 a.s7t 28,029
NOVEMBER 76 541534 324,232 61 176,802 290,889
DECEMBER 7 32,478 64,769, 72 15.434 33,879
TOTAL 974 541,674 920,318 609 461,224 552,559
1984
YANUARY 414 318,592 138,377 126 55.223 $6,439
FEBRUARY 40 17.482 46.058 27 13,920 22.007
MARCH 67 78.118 89.462 52 26,609 24,878
APRIL 80 72.859. 95,694 46 33/869 40,210
MAY. 66 14,031 191148 39 71521 io. 568
JUNE 73 50,692 68.270 42 291884 37,041
JULY 52 14.053 155,774 a7 14,162 24,759
AUGUST _ 6B 35.707 90:410 at 12,893 30,471
SEPTEMBER 53 24,607 40,282 "50 6.248 9,635
OCTOBER a4 19.513 L172 30 47,256 26,744
NOVEMBER 46 43.760 44.772 59 13820 16/282
DECEMBER 88 964,261 278.404 70 836,213 101,439
MULTIPLE 1 170 875 ° ° °
TOTAL 792 | 1,659,725 1, 100,998 629 1,067,618 200,913
1915
UANUARY sO 114,392 72.964 24 7,182 9,876
FEBRUARY 28 8.811 24,415 19 121167 10,991
MARCH 42 13,396 88.121 27 5.720 16.476
APRIL, 45 17,039 20;663 a7 9,285 13,290
May a4 60:793 23,631 34 21844 6/300
JUNE 38 20.439 211821 26 26.265 14,471
vULY 45 67.647 49,427 26 1.966 3.390
AUGUST 33 7861 45, 102 31 71431 4,108
SEPTEMBER 143 | 1,754,819 39.776 24 1921714 14.548
OCTOBER 37 141108 3B, 403. 32 14,878 7.834
NOVEMBER 25 8.705 26.469 17 6.129 7,059
DECEMBER 140 83.319 71.178 143 36,540 49,426
MULTIPLE 1 439 293 °
TOTAL ess | 2.171.702 492,163 450 923,112 152,010
CONTENUED-~

44


UNITED STATES DEPARTMENT OF AGRICULTURE
ECONOMIC RESEARCH SERVICE
WASHINGTON, DC 20005-4788



TABLE, 38--DISPOSITIONS OF U.S.| AGRICULTURAL LAND BY COUNTRY OF FOREIGN OWNER, BY U.S. REGION,
YANUARY 1 - DECEMBER 31, 1991
' (NUMBER) .
south WEST NORTHEAST MIDWEST
COUNTRY 7 5
PARCELS.|.|ACRES | PARCELS | AcRES | PARCELS | AcRES | PARCELS | ACRES
REPORTED REPORTED REPORTED REPORTED
BRITISH VIRGIN ISLANDS 1 14 ‘o ° ° “90 ° °
CANADA 1 62 2 40 5 395 1 “39
GERMANY 4 1,567 9 4,261 3 210 7 1,714
UAPAN ° a) ° ° ° ° 2 3.713
LUXEMBOURG 1 2,509 ° ° ° ° °. °
MEXICO 2 169 ° ° ° ° ° °
MONTSERRAT ° ° ° ° 1 145, ° °
NETHERLANDS ANTILLES 1 7 ° ° 1 110 ° °
PANAMA 3 3.106 ° ° ° ° ° °
SAUDI ARABIA 2 38 ° ° ° ° ° °
SWITZERLAND 2 7 ° ° ° ° 1 260
UNITED KINGDOM 15) | 44,145 6 a5 2 1,506 3 117
URUGUAY ° So ° ° ° ° wd 581
VENEZUELA ° ° ° ° 1 4 ° °
SUBTOTAL 1/ 32 | 18,684 17 5.146 13 2,407 15 6.424
US/BELGIUM ° ° ° ° ° ° 1 79
US/CANADA " 3.419 3 3,183 3 338 1 24
US/CAYMAN ISLANDS 1 636 ° ° ° ° ° °
US/FINLAND 3 698 ° ° ° ° ° °
US/FRANCE 1 29 1 2 34 6.724 ° °
US/GERMANY ° ° 2 119 1 337 * °. °
US/ITALY 1 199 ° ° o . ° ° °
US/JAPAN ° ° 2 1,756 1 180, 109 ° °
US/MEXICO ° ° 2 100,000 ° ° ° °
US/NETHERLANDS ANTILLES 2 680 3a 26 ° ° ° 9°
US/PANAMA 1 570 1 80 ° ° ° °
US/SPAIN 1 144 ° ° ° ° ° °
US/SWITZERLAND 9 213 2 227 ° O° Ae 283
US/UNITED KINGDOM 28 2,385 2 4,605 7 333 1a 4,088
US/THIRD TIER 5 17 ° ° ° ° 25 3,273
SUBTOTAL 2/ 63 9,050 18 109,998 46 187,844 - 45 7.744
TOTAL ALL
LAND DISPOSITIONS 9s | 57,734 35 115,144 59 190,248 60 14, 168

4/ TOTAL INTERESTS

|
EXCLUDING U.S.

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

42

CORPORATIONS WITH FOREIGN SHAREHOLDERS.


TABLE 8--U.S. AGRICU

LTURAL LANDHOLDINGS BY COUNIRY OF FOREIGN OWNER,

DECEMBER 31, 1991
(NUMBER )

COUNTRY OWNERS PARCELS ACRES
ARGENTINA 36 aa 13,994
AUSTRALIA 13 15 3)449
AUSTRIA 53 17 95,889
BAHAMAS, at aT 33,746
BAHRAIN 5 5 553
BARBADOS 1 3 117
BELGIUM 89 105 63,368
BELIZE 4 6 549
BERMUDA as 66 73,732
BOLIVIA 2 2 1
BRAZIL 6 9 5,262
BRITISH VIRGIN TSLANDS a7 42 69,961
CANADA 1,942 1,684 1,970,717
CAYMAN TSLANDS, aa 50 23.224
CHILE 5 8 1,556
CHINA 6 7 496
COLOMBIA 32 38 11,480
COSTA RICA 7 9 13,419

A 2 2 20
CZECHOSLOVAKIA 4 5 485
DENMARK 19 23 9,682
DOMINICAN REPUBLIC 12 12 2,128
ECUADOR 23 29 976
EGYPT 13 15 2,134
EL SALVADOR 4 5 309
FRANCE 145 179 87,125
GAMBIA 1 1 294
GERMANY 1,007 1,589 186,747
GREECE 18 24 57,423
GUATEMALA 9 10 1,022
GUYANA 1 1 35
HONDURAS: 14 14 892
HONG KONG 6t 89 14,763
HUNGARY 1 2 110
INDIA uw 13 1,687
INDONESIA 3 5 804
TRAN 24 24 2,623
IRELAND 10 16 10,705
ISRAEL 6 7 1,067
ITALY 30 aT 83.919
IVORY COAST 1 1 119
UAMAICA 3 4 1,631
UAPAN 89 114 181,692
YORDAN 17 19 2,380
KAMPUCHEA 1 1 31
KOREA (SOUTH) 7 7 1,536
KUWAIT 8 3 1,635
Laos 1 1 31
LEBANON a4 45 13,282
LIBERIA 16 22 29,684
LIECHTENSTEIN 120 164 144,374
LUXEMBOURG 6 9 3.976
MALAYSIA 4 8 7,948
MEXICO 213 268 174,555
Morocco 2 5 11035
NAMIBIA 2 3 197
NETHERLANDS. 231 302 113,651
NETHERLANDS ANTILLES 312 ao7 366,730
NEW ZEALAND 3 3 463
NICARAGUA 3 4 1,378
NORWAY 22 22 5.547
OMAN 2 5 5A
PAKISTAN 7 9 2.174
PANAMA 135 174 168,015
PERU 18 19 278
PHILIPPINES a4 a2 3,863
POLAND 1 1 147
PORTUGAL 5 6 1,306
ST VINCENT 2 4 2.637
SAUDI ARABIA 42 58 38,651
SINGAPORE 4 4 528
SOMALIA 1 1 11
SOUTH AFRICA 6 6 1,940
SOUTHERN RHODESIA 1 1 230
SPAIN 16 17 2,626
SWEDEN 27 a7 92.934
SWITZERLAND 965 496 300,273
SYRIA 7 9 4,706
TAIWAN 27 30 11,929
TANZANIA 2 2 10,143
THATLAND a 5 252
TRINIDAD & TOBAGO 4 a 131
TURKEY 2 2 558
TURKS ISLANDS: 8 12 3,192
UNITED ARAB EMIRATES 10 13 3,810
UNITED KINGDOM 228 400 1,809,214
URUGUAY 6 8 10,807
U.S.S.R 2 5 Bat

CONTINUED

14



TABLE 24--FOREIGN OWNERSHIP OF U.S. AGRICULTURAL LAND ACQUISITIONS BY U.S. REGION,
UANUARY 1 - DECEMBER 31, 1991
(NUMBER)
SOUTH WEST NORTHEAST MIDWEST
COUNTRY
PARCELS ACRES PARCELS ACRES PARCELS | ACRES PARCELS | ACRES
REPORTED REPORTED REPORTED REPORTED

AUSTRALIA ° ° ° ° ° ° 1 130
BERMUDA 2 139 ° ° ° ° ° °
BRAZIL 1 149 ° ° 1 137 ° °
CANADA 3 179 4 3,951 cy 1,523 1 63
FRANCE ° ° ° ° ° ° 5 422
GERMANY 23 +213 W 6,350 4 984 6 3,157
TTALY ° ° 1 175 ° ° ° °
UAPAN 2 138 ° ° ° ° 2 3,987
KOREA (SOUTH) ° ° 1 931 ° ° ° °
MEXICO 2 338 ° ° ° ° ° °
NETHERLANDS 1 18 2 tant 2 1,190 ° °
NETHERLANDS ANTILLES 1 40 ° ° 1 333 ° °
NORWAY ° ° 1 21 ° ° ° °
PHILIPPINES ° ° 1 255 ° ° ° °
PORTUGAL, 1 490 ° ° ° ° ° °
SAUDI ARABIA 1 13 ° ° ° ° 1 156
SPAIN 2 326 ° ° ° ° 1 212
SWITZERLAND 5 B17 2 60 1 85 1 164
TAIWAN ° ° 1 580 ° ° ° °
THAILAND 1 12 ° ° ° ° ° °
UNITED KINGDOM 8 +574 6 7.465 1 34 3 1,537
URUGUAY 1 18 ° ° ° ° ° °
VENEZUELA ° ° ° ° ° ° 4 1,586
MULTIPLE ° ° ° ° ° ° 2 323
THIRD TIER 5 11,944 2 182 ° ° 1 1,207

SUBTOTAL 1/ 59 27,405 32 24,444 19 4,286 28 12,941
US/BELGIUM 7 859 ° ° ° ° 1 56
US/BERMUDA 1 80 ° ° ° ° ° °
US/BRITISH VIRGIN

ISLANDS 2 310 ° ° ° ° ° °
US/CANADA 8 2,694 4 2,787 3. 151 2 59
US/CHINA 1 S71 ° ° ° ° ° °
US/DENMARK 1 13 ° ° ° ° ° °
US/FRANCE 78 27,557 ° ° 2 109 3 894
US/GERMANY 2 215 3 391 ° ° 1 ot
US/HONG KONG ° ° 1 720 ° ° ° °
US/INDONESIA 3 347 ° ° ° ° ° °
US/ITALY 1 4199 ° ° o - ° ° °
US/UAPAN 5 683 9 2,437 1 60.045 2 495
US/LIBERIA ° ° 1 50 ° ° ° °
US/LUXEMBOURG ° ° ° ° ° ° 2 82
US/MEXICO 3 a1T 3 760 ° ° ° °
US/NETHERLANDS 3 487 1 19 1 242 ° °
US/NETHERLANDS ANTILLES 1 720 ° ° ° ° ° °
US/PERU 1 100 ° ° ° ° ° °
US/SAUDI ARABIA 2 556 ° ° ° ° ° °
US/SWEDEN 1 531 ° ° ° ° ° °
US/SWITZERLAND 4 44.694 S 620 1 63 1 164
US/UNITED KINGDOM 7 +591 1 1,319 ° ° 5 3,494
US/VENEZUELA 1 318 ° ° ° ° ° °
US/MULTIPLE 2 72 ° ° ° ° ° °
US/THIRD TIER ° ° ° ° ° ° 2 140

SUBTOTAL 2/ 134 86.074 28 9.103 8 60,610 19 5.475
TOTAL ALL '

LAND ACQUISITIONS 193 113,479 60 = 30,514 27 64,896 a7 18.416

|
4/ TOTAL INTERESTS EXCLUDING U.S. dorporaTros WITH #OREIGN SHAREHOLDERS.
2/ TOTAL INTERESTS OF U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.
32



Table

10.

11.

12.

13.

14.

15.

16.

17.

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

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

owner,

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

Foreign-owned U.S. agricultural landholdings by size

List of Tables

1991 .

1991

1991

holding, December 31, 1991 .

Value of U.S. agricultural landholdings by type of

foreign owner, December 31, 1991 .

Value of foreign-owned U.S. agricultural landholdings
by date of acquisition, December 31, 1991

Value of foreign-owned U.S. agricultural landholdings
December 31,

by State,

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

1991

1991

Foreign ownership of U.S. agricultural landholdings by
U.S. region, December 31, 1991 .

Foreign-owned U.S. agricultural landholdings by type
interest, method of acquisition, and owner-
representative, December 31, 1991

Use of U.S. agricultural landholdings by country of

foreign owner, December 31, 1991 .

U.S. forest and other nonagricultural landholdings of
foreign owners by State, December 31, 1991 .

U.S. forest and other nonagricultural landholdings by

country of foreign owner, December 31, 1991

U.S. forest and other nonagricultural landholdings by
type of foreign owner, December 31, 1991 .

Foreign-owned U.S. forest and other nonagricultural

landholdings by size of holding, December 31, 1991 .

Intended use of U.S. agricultural landholdings of
foreign owners, December 31, 1991

Tenure of foreign-owned U.S. agricultural landholdings,

December 31,

1991

10
10
11
13
14

16

19
20
23
24
25
25
25

26


No change in intended use was reported for 94 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 3 percent of the acres indicate that some change to
nonagricultural use is intended.

mean, however, that all of these acres will be changed.

Such reports do not necessarily

What the

reports do mean is that the holders of these acres intended to

change the use of some of the acreage.

does not ask how many acres will be involved.
ing 1 percent of the acres did not indicate intended use.

However, the report form

Reports represent-

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

BY TYPE OF FOREIGN OWNER, DECEMBER 31, 1991
(NUMBER)
PARCELS WITH | ACREAGE
OWNER OWNERS PARCELS ACRES PARTIAL EQUIVALENT 2/
INTERESTS 4/
INDIVIDUAL 381 487 114,538 34 113,284
CORPORATION 325 1,454 5,001,243 138 3,579,414
PARTNERSHIP 112 244 1,678,300 21 1,674,246
ESTATE 2 2 1,644 ° 1,614
TRUST 22 a5 33,526 ° 33,526
OTHER 4a 5 865 ° 865
TOTAL B16 2,207 6,830,083 193 5,402,946

4/__PARCELS WITH PARTIAL INTERESTS ARE THOSE PARCELS WHICH ARE OWNED ONLY

IN PART BY THE FOREIGN INVESTOR;

100 PERCENT.

THAT IS,

A PERCENTAGE INTEREST LESS THAN

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, 1991

SIZE OWNERS PARCELS ACRES
(ACRES) (NUMBER ) (NUMBER ) (NUMBER)
LESS THAN 20 114 117 1,916
20-59 181 193 5,996
60-99 80 ga 6,138
100-299 157 203 26,783
300-999 143 230 82,129
1000 OR MORE 171 1,370 6,707,421

TOTAL 816 2.207 6,830,083

TABLE 16--INTENDED USE OF U.S.

AGRICULTURAL LANDHOLDINGS OF FOREIGN OWNERS

DECEMBER 31, 1991
(NUMBER)
ITEM NO CHANGE OTHER OTHER NON- NoT TOTAL
AGRICULTURE | AGRICULTURE| REPORTED

INDIVIDUAL:

PARCELS REPORTED 3,276 174 102 56 3,605

ACRES 867,768 59,744 7,030 7,369 941,914
ORGANIZATION:

PARCELS REPORTED 7,469 407 1,077 164 9.117

ACRES 13,066,749 246,273 357,827 195,741 13,866,590
TOTAL:

PARCELS REPORTED 10,745 578 1,179 220 12,722

ACRES 13,934,517 306,017 364,857 203,110 14,808,501

25


was based on the national average change in farmland value over
time. The adjusted current values are not presented as absolute
values for the foreign-owned land in this report but should be
viewed as approximations of change in value.

The data in table 6 are not intended in any manner to indicate
trends over time in the level of acquisitions by foreign persons.

TABLE 6--VALUE OF FOREIGN-OWNED U.S. AGRICULTURAL LANDHOLDINGS
BY DATE OF ACQUISITION, DECEMBER 31, 1991

ACRES ACRES
WITH PURCHASE WITH NON-
DATE PARCELS ACRES PURCHASE | PRICE 1/ NON- PURCHASE
ACQUIRED (NUMBER) (NUMBER) PRICE (1,000 PURCHASE | PRICE 1/
REPORTED | DOLLARS) PRICE (4,000
(NUMBER) * | Reported | DOLLARS)
(NUMBER)
1991 327 227,305 206,599 264,941 20,706 34,265
1990 711 4,406,467 989,916 495,732 416,551 198,062
1989 600 1,277,067 1,161,249 809.675 115,818 94,534
1988 595 1, 180,442 797.785 702,972 382,657 147,528
1987 483 514,947 399.469 321,700 112,478 7t,114
1986 606 1,900,548 1,676,283 357.315 224,265 173.696
1985 390 370,292 245,925 316,473 124,367 56,598
1984 511 982.661 906.659 533,090 76,002 163,891
1983 581 340,883 313,859 410.619 27.024 21,086
1982 754 605.442 387.051 515,189 218,391 79,987
1981 41,413 957,330 658.737 772,391 298,593 ag.871
1980 1,052 673,144 645.075 853.212 28,069 59,672
1979 1,154 922,323 874,749 1,109,419 47,574 29.863
1978 953 523,462 514,960 525.689 8.502 7,220
1977 536 376,824 365,024 319,873 11,800 6,066
1976 405 138,032 358.537 209.429 79,495 10.704
1975 256 203,876 200,909 101,575 2.967 1,606
1974-70 827 460,219 410,534 260,075 49.685 12.843
1969-60 548 175,594 683,360 72.578 92,234 7,372
BEFORE 1960 313 652,786 548,228 40,336 104,558 5.355
NO REPORT 7 21,857 21,857 7.051 ° °
TOTAL 12,722 14,808,501 12,366,765 8,999,994 2,441,736 1,270,939
ACRES REPORTED ADUUSTED
WITH CURRENT CURRENT
CURRENT VALUE 2/ VALUE 3/
VALUE (4,000 (4,000
REPORTED DOLLARS) DOLLARS)
(NUMBER )
1991 227,305 301.464 301,464
1990 1,406,467 701,233 708,245
1989 1,277,067 932,013 . 969,294
1988 1,180,442 856.136 933/515
1987 511,947 398,488 454,276
1986 1,900,548 631,860 701,365
1985 370,254 380.847 380.847
1984 982.456 697,904 614.156
1983 339.618 435,042 356.734
1982 603,515 644.878 515,902
1981 949.461 884,054 671,881
1980 580,271 768.981 615.185
1979 899,151 959,804 854,226
1978 AA7,715, 519,613 162.456
1977 263,334 511,895 435,587
1976 382.336 248,227 220,922
1975 141,791 107,063
1974-70 315,812 312/612
1969-60 419,219 170.671
BEFORE 1960 614,935 105010 931486
NO REPORT 21,697 18,040 16,056
TOTAL 13,775,341 10.659, 129 9,915,941

/ PURCHASE PRICE AND NONPURCHASE PRICE (ESTIMATED VALUE) AT TIME OF ACQUISITION.
1972 REPORTED CURRENT VALUE REFLECTS VALUE AT TIME OF REPORTING AFTER FEBRUARY 1,

3/ REPORTED CURRENT VALUE ADUUSTED TO JANUARY 1, 1990. REPORTED CURRENT VALUE FOR
HOLDINGS ACQUIRED IN 1990 IS UNADJUSTED.

11


TABLE 9--FOREIGN OWNERSHIP OF U.S. AGRICUL

URAL LANDHOLDINGS BY U.S.

REGION,

DECEMBER 91, 1991--CONTINUED
(NUMBER)
souTit west NORTHEAST MIDWEST
country
parcers | acres | parcets | acres | parcets | acres | PARCELS | ACRES

U.S.S.R. ° ° 1 80 4 761 ° °
VENEZUELA 103 10,394 4 537 24 3,645 4 4,967
VIETNAM 1 152 ° ° ° ° ° °
YUGOSLAVIA 1 863 ° ° ° ° 1 160
MULTIPLE 43 9.851 25 41,189 3 1,802 4 2.532
THIRD TIER 16 © 23.077 12 43,985 ° ° 5 13,801

SUBTOTAL 1/ 3,402 2,458,633 1,716 2,297,530 1,147 1,758,202 1,090 475,352
US/ANDORRA ° ° 1 3.741 ° oO ° °
US/ARGENTINA 2 580 ° ° ° °o 4 3,675
US/AUSTRALIA 3 676 1 a7 1 50 4 802
US/AUSTRIA 105,947 6 13,939 ° ° ° °
US/BAHAMAS 14 25.483 18 37,016 a 4,179 6 5,407
US/BARBADOS: ° ° 1 at ° ° ° °
US/BELGIUM a6 29,999 7 35,544 Ss 204 40 8,157
US/BERMUDA St 28,551 6 7,998 7 1,654 3 430
US/GRAZIL 5 4.803 ° ° ° ° 38 7,395
US/BRITISH VIRGIN

ISLANDS 10 3,010 2 480 ° ° °
US/CANADA 486 ‘358,646 187 144 GAT 100 944,653 qt 242,960
US/CAYMAN ISLANDS 15 BLAAT 2 1,981 1 250 1 70
US/CHILE ° ° 3 91929 ° ° ° °
US/CHINA 8 18.267 4 322 ° ° ° °
US/COLOMBIA 9 9,994 oO ° 1 160 ° °
US/COSTA RICA 1 Ao7 oO ° ° ° ° °
US/DENMARK 5 1,235 5 5,636 ° ° 1 127
US/ECUADOR 3 1,632 ° ° ° ° ° °
us/EGYPT a atta 3 249 ° ° ° °
US/EL SALVADOR 5 533 oO ° ° ° ° °
US/F INLAND: 7 oO ° Oo ° 1 60
US/FRANCF 53 49 11,815 59° 652.227 34 24,030
US/GERMANY AT 252,776 As 13,125 53 29,586
US/GREECE 2 4,957 1 145 ° °
US/GUATEMALA ° ° oO ° ° oO
US/GUYANA ° ° ° ° ° °
US/IIONDURAS ° ° ° ° ° °
US/HONG KONG 20 «£123,324 ° ° ° °
US/INDONESIA ° ° ° ° ° °
US/IRAN 4 1,012 ° ° ° °
US/IRAQ 1 800 ° ° ° °
US/IRELAND ° °o ° ° ° °
US/TTALY 1 160 5 984 2 391
US/UAPAN tot 167,753 10 64,937 91 13,496
US/KENYA 1 ° ° ° ° ° °
US/KOREA (SOUTH) 1 1 71s ° ° ° °
US/KUWAIT a a 6.066 1 772 3 296
US/LEBANON 4 ° 2 153 ° °
US/LIBERIA 9 5,120 4 18,023 5 3,590 ° °
US/LIBYAN ARAB REPUBLIC ° ° 3 28 ° ° ° °
US/LIECHTENSTEIN 32 22,665 4 760 47 7,596
US/LUXEMBOURG 12 10,970 1 94 3 285
US/MALAYSIA oO ° ° ° oO °
us/MEXICO 32 39,600 °o ° ° °
US/NETHERLANOS 139 55,935 19 3,563 262 36,275
US/NETHERLANDS ANTILLES 115 185,752 4 1,287 25 8.831
US/NEW HEBRIDES 1 2.108 ° ° ° °
US/NEW ZEALAND 2 332 ° ° ° °
US/NICARAGUA 2 282 ° ° ° °
US/NORWAY 7 8.161 2 172 ° °
US/PANAMA aa 34,602 12 4,868 10 3,271
US/PERU 4 100 ° ° ° °
US/PHILIPPINES 7 6,939 1 631 ° °
US/PORTUGAL 2 11683 ° ° ° °
US/QATAR 1 219 Oo ° ° °
US/SAUDI ARABIA so 19.729 ° ° 9 1,388
US/SOUTH AFRICA 4 4,404 ° ° ° °
US/SPAIN 3 296 2 1,548 1 50
US/SWEDEN 5 5,153 4 107 s 912
US/SW11ZERLAND 179 198.772 2600-43, 147 SO 91,127
US/TALWAN 3 oan ° oO Ss 3.641
US/THATLAND ° ° ° ° ° °
US/TRINIOAD & TOBAGO 1 20 ° ° ° °
US/TURKEY 2 443 ° ° ° °
US/UNITED ARAB EMIRATES, 4 2,107 ° ° ° ° ° °
US/UNITED KINGDOM aa4 266,970 126 786 .A76 BS 48,395 239 225,051
US/URUGUAY 1 578 ° ° ° oO 1 40
US/VENEZUELA a5 36,243 1 1,500 2 326 ° °
US/MULTIPLE 33 11,420 412 8,378 4 17,609 19 142,871
US/THIRD TIER 132 982.956 16 100,937 1 21380 28 © 125,813

SUBTOTAL 2/ 2.775 2,332,097 106 2,750,674 412 1,811,980 1,074 924,033
TOTAL ALL

LANDHOLDINGS. 6,177 4,790,730 2,822 5,048,204 1,559 9,570, 182 2.164 1,999,985,

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

TOTAL INTERESTS OF U.S.

17

CORPORATIONS WITH FOREIGN SIIARENOLDERS,


TABLE 7--VALUE OF FOREIGN-OWNED U.S.

AGRICULTURAL LANDHOLDINGS

BY STATE, DECEMBER 31, 1991
ACRES REPORTED ADJUSTED
REPORTED WITH CURRENT CURRENT
STATE AND ACRES VALUE 1/ CURRENT VALUE 2/ VALUE 3/
U.S. TERRITORY (NUMBER ) (4,000 VALUE (4,000 (1,000
DOLLARS) REPORTED DOLLARS) DOLLARS)
(NUMBER)
ALABAMA 409,759 212,513 402,308 251,744 257,005
ARIZONA 326,700 283,629 253,711 291,018 270,612
ARKANSAS 188,329 180,567 183,900 181,961 146,553
CALIFORNIA 915,882 1,870,342 853,360 1,874,872 2,006,610
COLORADO 584,455 365,563 551.631 360, 145 368,395
CONNECTICUT 1,074 5,376 965 4,187 7.466
DELAWARE 5,870 17,449 5.610 16,495 23,299
FLORIDA 562.039 1,142,998 539,127 1,279,995 1,650,860
GEORGIA 573,040 535,950 541,989 563,655 585,718
HAWAIT 175,517 598, 184 175,283 596,489 623,502
IDAHO 22.944 9,255 22,135 10,031 1,184
ILLINOTS 185,062 275,069 181,178 278,238 223,652
INDIANA 79,713 96,409 71,170 91,653 77,261
IOWA 32,012 49.531 30.961 53,928 33,726
KANSAS 73,574 7,446 70,886 38,160 29,672
KENTUCKY 93,226 207,753 87,719 207,551 206,738
LOUISTANA 688,373 181,806 671,112 229,871 168,826
MAINE 2,828,483 249,325 2,758,626 239,397
MARYLAND 2,186 143,383 48,763 151,979
MASSACHUSETTS 1,934 1,431 1,749 1,144
MICHIGAN 203,588 73,483 201,743 65,504
MINNESOTA 220,775 22,684 79,288 18,093
MISSISSIPPI 502,158 178,912 497,009 210,775
MISSOURI 82,195 80,663 77,388 7152
MONTANA 555,654 76,924 523,291 8.180
NEBRASKA 76,251 11,793 73,971 22,673
NEVADA 179,912 15,745 179,832 15,265
NEW HAMPSHIRE 220, 199 31,307 219,178 30,650
NEW JERSEY 19,343 85,985 17,304 72.459
NEW MEXICO 926,014 90.656 771,532 99,7144
NEW YORK 263,895 66,607 259,325 17,065
NORTH CAROLINA 229,659 241,859 218.336 299,296 283,457
NORTH DAKOTA 30,851 5,525 28,437 8,548 7,669
OHIO 174,717 190,256 155,084 182,692 135,321
OKLAHOMA 53,795 18,674 53,344 23,859 17,808
OREGON 746.285 183,699 741,600 205,807 187,705
PENNSYLVANIA 56,824 73,765 56,953 80,469 99,915
PUERTO RICO 839 696 839 938 798
SOUTH CAROLINA 190,692 177,184 182,244 179,757 197,028
SOUTH DAKOTA 42,882 15,234 37,863 14,854 11,498
TENNESSEE 174,298 87,205 169, 142 78,259 83,845
TEXAS 1,078,999 1,339,291 966.871 1,283, 1,473,775
UTAH 8, 107 53,508 45,286 109, 98,688
VERMONT 120,374 82,193 117,882 87,917 126,088
VIRGINIA 117,063 290,404 94,433 281,027 310,315
WASHINGTON 375,841 176,583 344,243 197,005 202,909
WEST VIRGINIA 102,459 69,654 102,057 65,246
WISCONSIN 23,467 28,157 20,227 21,977
WYOMING 170,896 37,072 119,656 28,738
TOTAL 14,808,501 10,269,667 13,775,341 10,659, 129 11,115,007

4/ REPORTED VALUE IS PURCHASE PRICE GR NONPURCHASE PRICE (ESTIMATED VALUE) AT TIME OF

ACQUISITION.

2/ REPORTED CURRENT VALUE REFLECTS VALUE AT TIME OF REPORTING AFTER FEBRUARY
3/ REPORTED CURRENT VALUE ADJUSTED TO JANUARY
HOLDINGS ACQUIRED IN 1991

IS UNADJUSTED.

13

1, 1979.

1991. REPORTED CURRENT VALUE FOR


Tenure

Tenants and foreign owners operate 39 percent and 30 percent of
the parcels of foreign-held U.S. agricultural land, respectively,
whereas managers operate only 10 percent of the parcels (table
17). No responses to the tenure question were received for the
remaining 21 percent of|the parcels. However, tenants operate

24 percent of the acres; while foreign owners directly operate 45
percent and managers 7 percent. No responses on tenure were
received for the remaining 24 percent of the acres.

Rental agreements were Leportea for 4,266 parcels, or 33 percent,
covering 19 percent of the acres. Of the rental agreements, cash
agreements accounted for 68 percent and cropshare agreements for
30 percent of the parcels.

Tenure Change

No tenure changes were reported for 47 percent of the parcels, or
49 percent of the acres | (table 17). Reports for 31 percent of
the parcels containing 24 percent of the acres indicate a new
tenure arrangement on at least part of the land. The acreage
affected by the new tenure arrangements is not reported. 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 0.2 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 21 percent of the

parcels containing 27 percent of the acres.

TABLE 17--TENURE OF FOREIGN-OWNED
U.S.| AGRICULTURAL LANDHOLDINGS,
DECEMBER 31, 1991
(NUMBER)
renure PARCELS ACRES
CURRENT:
FOREIGN OWNER 3,820 6,704,324
MANAGER 1,234 1,050, 134
TENANT 4,939 3,528,700
NO REPORT; 2,724 3,515,376
TOTAL 12,722 14,808,501
RENTAL:
CROP 1,274 575,492
CASH 2,920 2,215,697
BOTH 72 81,906
NO_REPORT| 4,636 5,231,082
NOT APPLICABLE 3,820 6,704,324
TOTAL 12,722 14,808,501
INTENDED CHANGE:
NONE 6,015 7,181,826
NEW 3,981 3,578,878
BOTH 33 28,923
NO REPORT| 2,693 4,018,874
TOTAL 12,722 14,808,501
26



company owns various percentage interests in 1,210,266 acres,
another company owns 256, 228 acres, and the other two companies,
accounting for 1,168,186 acres, are U.S. corporations in which

there are substantial foreign interests.

Hawaii, New Hampshire, 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, 1,078,999 acres,
but that amounts to only 0.7 percent of the privately owned
agricultural land in Texas.

Characteristics of Foreign Owners

Type of Foreign Owner. | corporations are the most common type of
owner. They account for 42 percent of the owners, followed by
individuals, 39 percenti, and partnerships, 15 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 56 perent of the parcels and 73 percent of the
acreage; individuals, 28 percent of the parcels and 6 percent of
the acreage; partnerships, 13 percent of the parcels and 19
percent of the acreage;| and all others, 3 percent of the parcels
and 2 percent of the acreage. When partial interests are taken
into account, foreign-owned acreage drops from 14.8 million acres
to 13.0 million, but distribution among the types of owners

remains relatively the same.

Corporate-held parcels average 1,515 acres, or 3,483 acres per
holder, while individual -held parcels average 261 acres, or 329
acres per holder. Partnership holdings average 1,765 acres per
parcel, or 2,667 acres per holder, and all other holdings average
625 acres per parcel, or 898 acres per holder.

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

DECEMBER 31, 1991
(NUMBER )
PARCELS WITH ACREAGE
OWNER OWNERS PARCELS ACRES PARTIAL
INTERESTS 1/ | EQUIVALENT 2/
INDIVIDUAL 2,863 3,605 941,911 240 858,169
CORPORATION 3,080 7,105 10,762,370 367 9,165,891
PARTNERSHIP 1,072 1.620 2,859,068 at 2,752,415
ESTATE 10 13 2,587 1 2,573
TRUST 244 342 225,163 6 224,476
INSTITUTION 3 3 1,075 1 1,015
ASSOCIATION 1 2 5,780 2 3,988
OTHER 18 32 10,547 ° 10,547
TOTAL 7,298 12,722 14,808,501 828 13,019,074

i/ PARCELS WITH part iat 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.

8





There are also notable holdings in Michigan, Minnesota, New
Hampshire, and New York, accounting for another 16 percent of the
acres.

Foreign persons from Canada own 42 percent of the foreign-owned
U.S. forest or forest and other nonagricultural lands (table 13).
Foreign persons from the United Kingdom and U.S./France
corporations own an additional 31 and 12 percent, respectively.

Individuals own 21 percent of the parcels but less than 2 percent
of the acres (table 14). Corporations reported holding 66
percent of the parcels, representing 73 percent of the acreage.
The remaining 13 percent of the parcels and 25 percent of the
acres are held by partnerships, trusts, estates, and others.

When partial interests are taken into account, the acreage
equivalent is 1,427,137 acres less than the acres for which
reports were filed.

Owners of parcels with less than 300 acres, 63 percent of all the
owners, own 28 percent of the parcels covering only 0.65 percent
of the forest or forest and other nonagricultural land (table
15). The remaining 37 percent of the owners, owning parcels with
300 acres or more, own 72 percent of the parcels covering 99.4
percent of these lands.

Intended Use

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.

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

DECEMBER 31, 1991
(NUMBER )
STATE STATE
AND U.S. PARCELS ACRES AND U.S. PARCELS ACRES
TERRITORY TERRITORY

ALABAMA 358 366 ,419|]MISSOURI 12 2,845
ARIZONA 1 13] MONTANA 10 1,033
ARKANSAS 16 2,256/NEW HAMPSHIRE 28 217,217
CALIFORNIA 12 232,476|NEW JERSEY 2 262
COLORADO 7 3,203|NEW MEXICO 1 8,490
CONNECTICUT 3 116]NEW YORK 135 212,918
FLORIDA 53 44,076|NORTH CAROLINA 64 47,352
GEORGIA 442 333,443|NORTH DAKOTA 1 272
HAWAIT 2 289] OHIO 19 2,094
IDAHO 2 156 | OKLAHOMA 4 690
ILLINOIS 8 3,514] OREGON 44 553,703
INDIANA 1 137] PENNSYLVANIA 18 34,759
KANSAS 1 11] SOUTH CAROLINA 83 118,948
KENTUCKY 12 29, 191| TENNESSEE 40 130,976
LOUISIANA 27 502,339] TEXAS 24 10,805
MAINE 178 2.798.431] VERMONT 182 91,241
MARYLAND 4 364] VIRGINIA 85 17,275
MASSACHUSETTS 4 1,444 | WASHINGTON 125 287,172
MICHIGAN 30 181,688/WEST VIRGINIA a4 97,637
MINNESOTA 52 190,049] WISCONSIN 1 1,672

MISSISSIPPI 65 303,707
TOTAL 2,207 6,830,083

23


TABLE 11--USE OF U.S. AGRICULTURAL LANDHOLD.NGS BY

DECEMBER 31, 1991

COUNTRY OF FOREIGN OWNER,

(ACRES)
COUNTRY ‘CROPLAND PASTURE FOREST OTHER OTHER NON- TOTAL
AGRICULTURE | AGRICULTURE
ARGENTINA slaaa 8.818 788 184 161 13,394
AUSTRALIA 110s 616 525 886 364 3,449
AUSTRIA 34982 2,605 17,516 651 135 55,889
BAHAMAS 11/006 12,856 7,409 2,182 293 33,746"
BAHRAIN 549 ° ° ° 4 553
BARBADOS. ° ° 87 ° 60 117
BELGIUM 5.365 53,518 1,864 1,620 1,004 63,368
BELIZE 25 235 232 55 2 549
BERMUDA 6/525 16,920 417.246 1,565 1.476 73,732
BOLIVIA 10 ° ° 1 ° 4
BRAZIL 517 4,267 35 431 12 5,262
BRITISH VIRGIN ISLANDS sl794 54,066 7.440 2,515 146 69,961
CANADA 1741862 172,023 1,560,447 39/296 27.089 1.970.717
CAYMAN ISLANDS 12/476 5.377 21923 11925 523 29.224
CHILE a34 430 240 ° 1.556
CHINA 70 27 168 49 496
COLOMBIA 9,900 37 316 8g 411,480
COSTA RICA 4.150 100 167 2.413 13.419
CUBA ° 12 ° 20
CZECHOSLOVAKIA 153 30 30 15 485
DENMARK 512 2.012 118 88 9.682
DOMINICAN REPUBLIC ° ° 1 120 2,128
ECUADOR 92 ° 671 6 976
eEGyPr 922 384 379 as 2,134
EL SALVADOR 74 129 ° 49 309
FRANCE 23,088 9.576 23,123 3.379 87,125
GAMBIA 294 ° ° 294
GERMANY 134,039 203,206 31,250 19,485 756.747
GREECE 55.651 4174 10 106 57.423
GUATEMALA 212 363 35 79 1,022
GUYANA ° ° 35 ° 35
HONDURAS 17 ° 60 ° 892
HONG KONG 2,701 4,254 4,056 102 14,763
HUNGARY ° ° 103 7 110
INDIA 70 840 401 27 1,687
INDONESIA 295 6 789 53 B04
IRAN 542 531 99 128 2.623
IRELAND 6.762 20 24 2.412 10.705
ISRAEL 355 217 129 16 11067
ITALY 24,214 7.644 8,512 13,553 831819
IVORY COAST ° 80 39 ° 119
YAMATCA 291 800 27 513 1.631
UAPAN 136,821 2.680 13,453 5.205 181/692
YOROAN ASS, 273 1: 802 2.380
KAMPUCHEA ° ° ° 4 34
KOREA (SOUTH) 18 363 972 8 1,536
KUWAIT 463 125 67 2a 1,635
Laos 16 10 5 ° 34
LEBANON 3.837 840 1,747 1,223 13,282
LIBERIA 23,502 4.298 320 870 29,684
LIECHTENSTEIN 34,967 16.695 7.107 6.702 144,371
LUXEMBOURG 712 538 195 313 3.976
MALAYSIA 2nt ° ° 2 7.948
Mex1co 141.589 2.902 3,501 5.525 174,555
Morocco 83 ° a2 40 11035
NAMIBIA ° 8 ° 4 197
NETHERLANDS, 32,864 10.930 19,037 8.171 113,651
NETHERLANDS ANTILLES 81,968 53.945 59,416 10.498 366,730
NEW ZEALAND 201 ° 7 95 463
NICARAGUA 970 248 60 100 1,978
NORWAY 507 154 225 aat 5.547
OMAN 126 126 43 3g 454
PAKISTAN ° ° ° 33 2.471
PANAMA 89,978 19.714 15,635 16.577 168,015
PERU 13 2 87 55 278
PHILIPPINES 822 285 987 59 3.863
POLAND 25 50 ° ° 147
PORTUGAL 592 200 ° 17 1,306
ST VINCENT 1,230 1,042 10 60 2.637
SAUDI ARABIA 7,301 2l1a4 9,077 4,873 38,654
SINGAPORE ° 468 ° 34 26 528
SOMALIA ° ° 4 ° ° 14
SOUTH AFRICA 307 1,357 50 216 10 1,940
SOUTHERN RHODESIA 3f 30 67 ° 2 230
SPAIN A698 1,302 aas 360 50 2.626
SWEDEN 3,030 11978 6.648 19,914 764 32.334
SWITZERLAND 107800 114.753 20,195 12.834 44,594 300,273
SYRIA 2.819 808 133 229 717 4,706
TAIWAN 6. jes 3,309 1.018 345 1.072 111929
TANZANIA 51000 35 ° 170 4.938 10.143
THATLAND 13 120 18 1 ° 252
TRINIDAD & TOBAGO 24 30 35 ° 42 131
TURKEY 59 283 ° 116 ° 558
TURKS ISLANDS 2.390 391 167 172 72 3,192
UNITED ARAB EMIRATES 515 550 805, +940 ° 3.810
UNITED KINGOOM 75,331 199.098 1,567,378 15.012 6,395 1,803,214
URUGUAY 1.820 7.916 490 ° set 10.807
U.S.S.R. isa 96 237 55 269 B44
CONTINUED ~

20


Table

34. Dispositions of U.S. agricultural land by foreign
owners, by citizenship of purchasers, January 1-
December 31, 1991 ... 2-2 2 © © © © © ee ee ee ee

35. Dispositions of U.S. agricultural land by type of
foreign owner, January 1-December 31, 1991 .....-.-s

36. Dispositions of foreign-owned U.S. agricultural land by
size of disposition, January 1-December 31, 1991... .

37. Dispositions of U.S. agricultural land by country of
foreign owner, January 1-December 31, 1991... + ++ +

38. Dispositions of U.S. agricultural land by country. of
foreign owner, by U.S. region, January 1-
December 31, 1991... 6 6 ee ew ee we ww ee ee

39. Dispositions of U.S. agricultural land by country of
foreign owner, by use, January 1-December 31, 1991...

40. Acquisitions and dispositions of foreign-
owned U.S. agricultural land, by date,
January 1981-December 1991. . 6. 2. se ee ee ew ee ee


Table

18.
19.
20.
21.
22.
23.
24.

25.

26.

27.
28.
29.
30.

31.

32.

33.

U.S. agricultural
by State, January

U.S. agricultural
owner, January 1-D

land acquisitions of foreign owners

1-December.,31,- 1991... ee ee we,

land acquisitions by type of foreign
ecember 31, 1991 . 2:2 6 2 ee wee

Foreign owners of U.S. agricultural land acquisitions

by State, January

Foreign-owned u.s|

size of acquisitic

Value of U.S. agri

-December .31, 1991 ... 0.06 ee tee

agricultural land acquisitions by
Mp: January 1-December 31, 1991...

cultural jana acquisitions by type

foreign owner, January , i> December 31, 1991... 2.» »

U.S. agricultural

lana acquisitions by country of

foreign owner, January 1-December 31, 1991 ......

Foreign ownership lof..U. s. agricultural land acquisi-

tions by U.S. regil

Foreign-owned U:S.

ion, * ‘January 1-December 31, 1991 ..

agricultural. land acquisitions by

type of interest, method of acquisition, and owner-_

representative, Ja!

Use of U.S. agricu

nuary 1-December 31, 1991 .....

ltural land acquisitions by country

of foreign owner, January 1-December 31, 1991 ....

U.S, forest and ot
sitions of foreign
December 31, 1991

U.S.
sitions by country,
December 31, 1991

her nonagricultural land acqui-
owners by State, January 1-

forest and other nonagricultural land acqui-

of foreign owner, January 1-

U.S. forest and other nonagricultural land acqui-

sitions by type of
December 31, 1991

foreign owner, January 1-

Foreign acquisitions of U.S. forest and other

nonagricultural lal
January 1- -December,

d by size of acquisition,
31, 1991 2... eee ee ee ene

Intended use of U.S. agricultural land acquisitions of
foreign owners, January 1-December 31, 1991 .....

Tenure of foreign-

owned U.S. agricultural land

acquisitions, January 1-December 31, 1991 ......

Dispositions of U.S. agricultural land by type of

foreign owners, by;

State, January 1-December 31, 1991

vi

27
28
29
29
30
31
32
33

34
35
35
36

36
37

37

38


Size of Holding. Holdings are concentrated with smaller acreage
held by individuals and: larger acreage held by corporations
(tables 2 and 3). Owners of parcels of less than 300 acres .(61
percent of all of the foreign owners) hold only 3 percent. of the
land and owners of parcels with 300 acres or more (the remaining
39 percent) hold 97 percent of the land (table 4). ‘Part of this
concentration may be explained by the definition of agricultural
land, which includes extensive uses of land.such as ranching and
forestry and intensive uses of land such as orchards and vege-
table 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.

TABLE 3--FOREIGN OWNERS OF U.S. AGRICULTURAL LANDHOLDINGS

BY STATE, DECEMBER 31, 1991
(NUMBER )
STATE INDIVIDUAL ORGANIZATION
AND U.S.
TERRITORY
PARCELS ACRES PARCELS ACRES

ALABAMA 25 652 415 409, 107
ARIZONA 28 11,787 148 314,913
ARKANSAS 73 42,137 131 146,192
CALIFORNIA 227 66,905 992 848,977
COLORADO 144 119,812 222 464,643
CONNECTICUT 5 262 14 B12
DELAWARE 4 926 9 4,944
FLORIDA 413 27,700 B21 534,339
GEORGIA 167 59,862 808
HAWAIT 15 1,492 63
IDAHO 1 6.611 33
ILLINOIS 51 11,513 357
INDIANA 32 5,556 144
IOWA 66 15,334 66
KANSAS 28 77
KENTUCKY 39 178
LOUISIANA 15 123
MAINE 25 174
MARYLAND 52 138
MASSACHUSETTS, 2 6
MICHIGAN a7 72
MINNESOTA 20 115
MISSISSIPPI 4 248
MISSOURI 35 116
MONTANA 55 96
NEBRASKA 9 30
NEVADA 1 17
NEW HAMPSHIRE 9 29
NEW JERSEY 10 54
NEW MEXICO 20 a7
NEW YORK 248 154
NORTH CAROLINA 34 242
NORTH DAKOTA 38 28
OHIO 51 426
OKLAHOMA 6 63
OREGON 40 101
PENNSYLVANIA 25 83
PUERTO RICO 4 6
SOUTH CAROLINA 43 165
SOUTH! DAKOTA 39 37
TENNESSEE 80 86
TEXAS 624 177,226 1,067
UTAH 4 1,009 19
VERMONT 355 28,848 163
VIRGINIA 123 24,036 280
WASHINGTON 169 288
WEST VIRGINIA 1S 4s
WISCONSIN 67 47
WYOMING 8 34 149,180

TOTAL 3,605 941,914 9,117 19,866,590



No change in tenure was reported for, 49 percent of the acres,
while some change was reported for 24 percent of the acres. No
responses regarding tenure change.were received for the remaining
27 percent of the acres.

Foreign ownership of U.S. agricultural land has remained rela-
tively steady from 1981 through 1991--slightly above or below 1
percent of the privately owned agricultural land in the United
States.

Data gathering and analysis cost the U.S. Department of Agri-
culture approximately $431,000 for 1991.


TABLE 8--U.S. AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,
DECEMBER 31, 1991--CONTINUED

(NUMBER)

COUNTRY OWNERS PARCELS. ACRES
VENEZUELA ot 196 19,543
VIETNAM 1 1 152
YUGOSLAVIA 2 2 1,023
MULTIPLE 2 75 95.344
THIRD TIER at 33 80.863

SUBTOTAL 4/ 5.988 7,955 6,989,717
Us/ANDORRA 1 1 3.744
US/ARGENTINA 3 6 4,255
US/AUSTRALIA 3 2 11565
US/AUSTRIA 1 16 19,886
US/BAHAMAS 14 42 72,085
US/BARBADOS 1 1 at
US/BELGIUM 28 98 73,904
US/BERMUDA 18 67 38.633
US/BRAZIL 5 43 21198
US/BRITISH VIRGIN

ISLANDS 9 12 3,490
US/CANADA 226 884 1,690,906
US/GAYMAN ISLANDS 4 19 10,748
US/CHILE 1 3 91929,
US/CHINA 4 8 15,589
US/COLOMBIA 7 10 10, 154
US/COSTA RICA 1 1 407
US/DENMARK 8 "1 6,998
US/ECUADOR 3 3 4.632
US/EGYPT 5 4 41963
US/EL_ SALVADOR 5 5 533
US/F INLAND 3 8 2,369
US/FRANCE 105 95 1,019,520
US/GERMANY 208 388 Ana, 852
US/GREECE 3 4 5.249
US/GUATEMALA 2 3 412
US/GUYANA 1 2 334
US/HONDURAS 1 1 37
US/HONG KONG 19 25 131,979
US/ INDONESIA 3 4 544
US/TRAN 5 7 1,967
US/TRAQ 1 1 800
US/ IRELAND 5 12 4,608
US/TTALY 18 23 21.646
US/JAPAN 180 268 268,367
US/KENYA 1 5 32
US/KOREA (SOUTH) 2 2 35
US/KUWAIT 6 12 7,861
US/LEBANON. 5 & 703
US/LIBERA 14 8 26,733
US/LIBYAN ARAB REPUBLIC 2 3 280
US/LIECHTENSTEIN 54 98 52,250
US/LUXEMBOURG 22 a4 233,590
US/MALAYSIA 4 1 300
Us/MEXICO 43 61 322,583
US/NETHERLANDS, 101 558 315,556
US/NETHERLANDS ANTILLES tos 172 223,469
US/NEW HEERIDES 2 2 21991
US/NEW ZEALAND 2 3 47,010
US/NICARAGUA 1 2 28:
US/NORWAY 5 8 8,333
US/PANAMA 61 109 146.244
uUs/PERU 1 1 100
US/PHILTPPINES 10 10 7,793
US/PORTUGAL 2 2 11683
US/OATAR 1 1 219
US/SAUDT ARABIA 9 59 21.417
US/SOUTH AFRICA 3 4 4.404
US/SPAIN 14 16 4.574
US/SWEDEN 8 41 61172
US/SWITZERLAND 189 378 993,409
US/TAIWAN 4s 48 10,985
US/THATLAND 1 3 252
US/TRINIDAD & TOBAGO 1 1 20
US/TURKEY 1 2 443
US/UNITED ARAB EMIRATES. 2 14 2,107
US/UNITED KINGDOM 193 945 1,326,892
US/URUGUAY 2 2 618
US/VENEZUELA 28 48 38,069
US/MULTIPLE 35 68 180.278
US/THTRD TIER 15 17 610,886

SUBTOTAL 2/ 1,910 5.967 7,818,784
TOTAL ALL

LANDHOLDINGS 7,298 12,722 14,808,501

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

.

15


Foreign Ownership
of U.S. Agricultural
Land Through

December 31, 1991

J. Peter DeBraal


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 46 percent of the.
parcels accounting for |42 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 disposed jof 249 parcels of U.S. agricultural land
covering 377,294 acres between January 1 and December 31, 1991.
In addition to these dispositions, there were reports of land-use
changes out of agriculture affecting 3 parcels covering 156 acres
and reports of change in status from foreign to nonforeign
affecting 22 parcels covering 12,248 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.
that were not timely filled and/or completed or statutorily were
not required to be filed by the closing date for this report are

not included.

Characteristics of Foreign Owners Disposing of Land

Type of Foreign Owner. | The largest amount of acres disposed was
in Maine and New Mexico|, accounting for 75 percent of the

dispositions acreage (table 33).

TABLE 93--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY TYPE OF FOREIGN OWNERS,
Y STATE, JANUARY 1 - DECEMBER 31, 1991
(NUMBER)

Reports

|
INDIVIDUAL, ORGANIZATION TOTAL
STATE i
AND U.S.
TERRITORY PARCELS ACRES PARCELS ACRES PARCELS ACRES
REPORTED REPORTED REPORTED

ALABAMA ° ° 12 3,420 12 3,420
ARIZONA ° ° 2 160 2 160
ARKANSAS 1 457 ° ° 1 457
CALIFORNIA 1 476 6 1.670 7 2.446
CoLoRaDo ° ° 7 7.682 7 71682
FLORIDA 2 7 3 108 5 115
GEORGIA 2 480 16 6.383 18 7,333
HAWAII ° ° 1 11736 1 11736
TLLINOTS ° ° 24 31502 24 31502
INDIANA 1 33 3 274 4 304
KENTUCKY ° ° 1 1 1 1
LOUISIANA ° ° 9 386 9 286
MAINE 1 176 a4 183,866 32 184,042
MARYLAND 4 a5 1 337 2 422
MISSISSIPPI ° ° 7 40,742 7 40,742
MISSOURI ° ° 8 11767 8 1.767
MONTANA ° ° 2 40 2 40
NEBRASKA ° ° 1 3.680 4 3,680
NEW HAMPSHIRE ° ° 1 17 1 17
NEW JERSEY ° ° 1 65 1 65
NEW MEXICO ° ° 2 100,000 2 100,000
NEW YORK 1 25 1 145 2 170
NORTH CAROLINA ° ° 2 19 2 19
NORTH DAKOTA 4 156 ° ° 4 156
oHi0 a 977 7 762 "4 1,739
OREGON 5 2,414 s 820 to 31234
PENNSYLVANIA ° ° 10 3,547 10 31547
SOUTH CAROLINA ° ° 26 11937 26 11937
TENNESSEE ° ° 1 21000 1 21000
TEXAS 2 169 8 1.523 10 11692
VERMONT s 166 6 1819 11 198s
VIRGINIA 2 1,060 2 872 4 tiea2
WASHINGTON ° ° 4 146 4 “146
WISCONSIN 3 737 4 283 7 1,020

TOTAL 35 7.388 214 369,906 249 377,294

38


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 jand 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 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 Secretary 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. agricul-
tural land owned by foreign persons as of December 31, 1991. For
transactions that occurred in 1991, the terms "acquisitions" and
"dispositions" refer to U.S. agricultural lands acquired or
disposed of 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 interest (a mortgage or other debt-securing instrument) .
The regulations exempt jleaseholds of less than 10 years’ dur-
ation, contingent future interests, noncontingent future in-
terests 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 indi-

vidual who 1) is not a U.S. citizen or national, 2) is not a
citizen of the Northern Mariana Islands or the Trust Territory of

2


Foreign Ownership of U.S. Agricultural
Land Through December 31, 1991

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 14.8 million
acres of U.S. agricultural land as of December 31, 1991. This is
slightly more than 1 percent of all privately owned U.S. agricul-
tural land and approximately 0.65 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 implemented 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 that
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 individual or a
government, nature of the legal entity, including the entity’s

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

2/ Pub. L. No. 95-460, 7 U.S.C. §§ 3501-3508 (1988).

2/ 7 C.F.R. §§ 781.1-.6 (1991). See 7 C.F.R. §§ 2.21(b) (29), .27
(a) (12), .65(a) (30), and .84(a)(7) (1991) for the delegation of
authority.


TABLE 26--USE OF U.S. AGRICULTURAL LAND ACQUISITIONS BY COUNTRY OF FOREIGN OWNER,

UANUARY 1 - DECEMBER 31, 1991
(ACRES)
COUNTRY CROPLAND PASTURE FOREST OTHER OTHER NON- TOTAL
AGRICULTURE | AGRICULTURE

AUSTRALIA L 122 8 ° ° 130
BERMUDA ° 16 ° 123 ° 139
BRAZIL 132 149 ° ° 5 286
CANADA 738 2,810 2,449 252 127 5.716
FRANCE 256 29 ° 92 45 422
GERMANY 8,149 4,828 5,100 aag 178 18,704
ITALY 110 60 ° 5 ° 175
UAPAN 135 3,668 ° 15 307 4,125
KOREA (SOUTH) ° ° ° 931 ° 931
MEXICO 274 ° 64 ° ° 338
NETHERLANDS 2,324 307 ° ° 18 2,649
NETHERLANDS ANTILLES 358 ° 1 14 ° 373
NORWAY ° ° ° 24 ° 24
PHILIPPINES 182 ° ° ° 73 255
PORTUGAL ° 490 ° ° ° 490
SAUDI ARABIA 156 ° ° 13 ° 169
SPAIN ° 144 212 182 ° 538
SWITZERLAND 864 ° 210 10 39 1,123
TAIWAN 500 80 ° ° ° 580
THAILAND ° ° 4 1 ° 12
UNITED KINGDOM 295 8,428 4,796 B84 7 13,610
URUGUAY ° ° ° ° 18 18
VENEZUELA 1 487 ° ° 99 ° 1,586
MULTIPLE 316 ° ° 7 ° 323
THIRD TIER 10,370 2,230 246 348 136 13,330

SUBTOTAL 1/ 2.008 23,361 13,097 2,646 953 66,043
US/BELGIUM 56 732 67 ° 60 915
US/BERMUDA i) ° 67 13 ° 80
US/BRITISH VIRGIN

ISLANDS ° 145 ° ° 165 310
US/CANADA 1217 206 5,144 205 3 5,691
US/CHINA © ° 871 ° ° 571
US/DENMARK iy ° ° 13 ° 13
US/FRANCE 33 168 23,317 377 4,668 28,560
US/GERMANY 255 40 ° 280 122 697
US/HONG KONG iy ° ° ° 720 720
US/ INDONESIA 180 153 ° 14 ° 347
US/ITALY i 199 ° ° ° 198
US/JAPAN 796 1,101 60,423 1,370 970 64,660
US/LIBERIA i ° ° 50 ° 50
US/LUXEMBOURG i 82 ° ° ° 82
US/MEXTCO ait 682 ° 78 ° 1,237
US/NETHERLANDS 132 83 843 564 126 1,748
US/NETHERLANDS ANTILLES 720 ° ° ° ° 720
US/PERU t ° 25 75 ° 100
US/SAUDI ARABIA ° 1,556 ° ° ° 1,556
US/SWEDEN i ° 531 ° ° 531
US/SWITZERLAND 4,956 1,000 39,000 279 306 45,544
US/UNITED KINGDOM 949 1,366 2.965 80 1,044 6,404
US/VENEZUELA b 318 ° ° ° 318
US/MULTIPLE i) 65 7 ° ° 72
US/THIRD TIER se] 140 ° ° ° 140

SUBTOTAL 2/ 8.681 8,033 *32,960 3,398 8,190 161,262
TOTAL ALL

LAND ACQUISITIONS 34,667 31,394 *46,057 6,044 9,143 227,305

4/ TOTAL INTERESTS EXCLUDING UI
2/ TOTAL INTERESTS OF U.S. COR

34

|S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.
PORATIONS WITH FOREIGN SHAREHOLDERS.


accounts for 3 percent of the reported foreign-held acres.
Nonagricultural land includes acreage such as the homestead and
roads commonly reported |as part of the agricultural landholding
or land that is idle now but its last use within the past 5 years
was for agriculture. 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 from Canada and the United Kingdom own 5,138,224
acres, or 70 percent, of the reported forest land holdings.
Foreign persons from France hold an additional 12 percent of the
forest land. Unidentifiable third-tier foreign persons own 4
percent of the forest land. The large Canadian and U.K. holdings
are attributable to seven companies--two Canadian companies with
1,466,694 acres, three U.S. /Canada corporations with 1,208,785
acres, and one U.S/U.K. |corporation and one U.S./U.K. partnership
with 1,932,782 acres.

Foreign persons from Germany own the most cropland, 493,235
acres, or 20 percent, followed by Switzerland, the united
Kingdom, the Netherlands Antilles, and.Canada with ‘an additional
36 percent of the acreage. Unidentifiable third-tier parties own

6 percent of the cropland.

Foreign persons from the United Kingdom, Mexico, Germany, and

Canada own 46 percent, or 1,796,275 acres of pastureland.

Foreign persons from ,Japan, the Netherlands, the Netherlands
Antilles, Panama, Switzerland, and Luxembourg own an additional
30 percent, or 1,184, 608 acres. Unidentifiable third-tier

persons own 6 percent of the pastureland.

The largest group of owners of other agricultural land are
foreign persons from Canada, the Netherlands Antilles, and France
with 30 percent of the acres. They are followed by the foreign
persons from the Netherlands, Germany, U.S./Luxembourg
corporations, and foreign persons from the United Kingdon,
Switzerland, and Japan, |who own 277,414 foreign acres, or 41
percent.

Based on reports by foreign owners who reported owning only
forest or forest and other nonagricultural land, these reports
account for 46 percent of all the foreign-owned U.S. agricultural
land (tables 1 and 12). | The remaining 54 percent is primarily
farmland, although it includes some forest and/or other
nonagricultural land commonly reported as part of the farmland
holding (table 11).

The average parcel size |/for parcels with forest or forest and
other nonagricultural land is 3,095 acres (table 12). Except for
Maine (with 41 percent 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, South Carolina, and
Tennessee account for 26 percent. California, Oregon, and
Washington account for another 16 percent of the acres reported.

22



Transfers by foreign investors to U.S. purchasers accounted for
55 percent of the parcels and 95 percent of the acres (table 34).
Reports for 12 percent of the parcels and 2 percent of the acres
indicated that they were transferred to other known foreign
persons. Reports for 31 percent of the parcels covering 3
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 54 percent of the owners, 74 percent of
the parcels, and 85 percent of the acres (table 35). In com-
parison, individuals accounted for 31 percent of the owners, 14
percent of the parcels, and 2 percent of the acres.

Size of Disposition. The most acreage disposed of was for
parcels with 1,000 or more acres, accounting for 96 percent of

TABLE 34--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY FOREIGN OWNERS,

BY CITIZENSHIP OF PURCHASERS, JANUARY 1 - DECEMBER 31, 1991
(NUMBER)
PURCHASER PARCELS ACRES
REPORTED
USA 136 360,015
FOREIGN 30 6.199
UNKNOWN 78 9,690
NO REPORT 5 1,390
TOTAL 249 377,294

TABLE 35--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY TYPE OF FOREIGN
OWNER, JANUARY 1 - DECEMBER 31, 1991

(NUMBER )
PARCELS WITH
OWNER OWNERS PARCELS ACRES PARTIAL ACREAGE
REPORTING | REPORTED INTEREST EQUIVALENT 2/
REPORTED 1/
INDIVIDUAL 29 35 7,388 1 7,302
CORPORATION Bt 184 318,818 2 197,823
PARTNERSHIP 14 27 50,197 1 29,397
TRUST 3 3 8st ° 891
TOTAL 94 249 377,294 4 235,413

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.

39


TABLE 11--USE OF U.S. AGRICULTURAL LANDHOLDINGS BY COUNTRY OF FOREIGN OWNER,
DECEMGER 31, 1991--CONTINUED
(acres)
COUNTRY CROPLAND PASTURE rorrst omer — [onieR NON- roral.
AGRICULTURE | AGRICULTURE

VENEZUELA 7.975 3915 3,448 2.551 1,654 19,549
VIETNAM ° ° 152 ° ° 152
YUGOSLAVIA 928 ° 10 ° 85 1,023
MULTIPLE 7.768 9.851 8,072 27.649 2,004 55.944
THIRD TIER 21,406 14,187 45,432 4,726 1.112 80,863

SUBTOTAL 1/ 1,340,952 1,459,744 3,650,722 337,482 200,817 6,989,717
US/ANDORRA 200 3.541 ° ° ° 3.7441
US/ARGENTINA B16 3i194 40 ° 208 4,255
US/AUSTRALIA 458 354 345 254 154 1.565
US/AUSTRIA 4,114 12525 2.967 182 98 19,886
US/BAHAMAS 15,622 44,768 4.291 10,260 144 72.085
US/BARBADOS a4 ° ° ° ° at
US/BELGIUM 18,376 37 381 14,376 1,658 1.613 73,904
US/BERMUDA 1,648 4 $20 16,473 7.7414 11.378 38.633
US/BRAZIL 81236 3,096 ° 739 127 12,198
US/BRITISH VIRGIN

ISLANDS, 670 782 1,654 204 180 3,490
US/CANADA 47,355 161,898 = 1,417.348 29,361 34,944 1,690,906
US/CAYMAN ISLANDS 7.109 366 41762 917 594 10,748
US/CHILE ° 9,929 ° ° ° 91929
US/CHINA 316 1,908 1,527 1,198 10.640 15,589
US/COLOMBIA 302 9:80t 50 ° 1 10, 154
US/COSTA RICA ° 239 168 ° ° 407
US/DENMARK a19 235 6,307 at 6 6.998
US/ECUADOR 69 1,549 ° ° 14 1,632
US/EGYPT 620 585 149 34 11963
US/EL_ SALVADOR 52 Bt ° ° 533
US/F INLAND 60 ° ° 72 2,369
US/FRANCE 41,085 34,860 43.712 15.596 1,019,520
US/GERMANY 124.468 240.418 16,565 18.018 = “aaa,852
US/GREECE 110 4.957 ° 35 5.249
US/GUATEMALA ° 392 20 ° 412
US/GUYANA ° ° 334 ° 334
US/HONOURAS 37 ° ° ° 37
US/HONG KONG 121, 102 8.585 119 TAT 134,378
US/INDONESIA 351 153 14 26 544
US/IRAN 483 “aT 665 67 1,967
US/TRAG 800 ° ° ° 800
US/TRELAND 1,828 672 319 3 4,608
US/ITALY 13lata 4a.a7T 702 697 21.646
“US/UAPAN 37,999 107,726 29,399 10,597 268,367
US/KENYA ° ° ° ° 32
US/KOREA (SOUTH) 10 63 ° 12 85
US/KUWAIT 486 5.610 604 89 7.561
US/LEBANON 200 140 209 24 703
US/LIBERIA 1,871 18.749 4,082 201 26,733
US/LIBYAN ARAB REPUBLIC ° 277 3 280
US/LIECHTENSTEIN 32,436 6.447 3.109 2,261 52,250
US/LUXEMBOURG 12.703 164,319 46.066 7.763 © 233.590
US/MALAYSIA ° 300 3
US/MEX ICO. 6.088 300,206 12.835 2.9589 322,583
US/NETHERLANDS 87.794 198.770 32330 11,807 315,556
US/NETHERLANDS ANTILLES 65.964 1151248 8.978 18,087 223.469
US/NEW HEBRIDES 4,300 41533 ° 158 2,991
US/NEW ZEALAND 21605 aaliaa 240 24 47,010
US/NICARAGUA ° 242 ° ° 282
US/NORWAY 66 30 8.039 58 8,333
US/PANAMA 45.248 88,604 5.415, 1375-146 ,244
US/PERU 75 ° 100
US/PHILIPPINES 5.972 59 32 1,056 7.793
US/PORTUGAL 4.429 151 ° 103 11683
US/OATAR ° ° ° ° 219
US/SAUDT ARABIA 4,732 7.649 295 1,135 24,447
US/SOUTH AFRICA 11595 11834 656 144 4.404
US/SPAIN 21869 707 557 38 4.574
US/SWEDEN 31245 1,831 33 389 6.172
US/SWITZERLAND 119,927 52,845 117,002 30,894 12,741 333,409
US/TAIWAN a.gaa 2.758 21525 637 131 10.995
US/THAILAND 175 ° ° 77 ° 252
US/TRINIDAD & TOBAGO 20 ° ° ° ° 20
US/TURKEY 350 93 ° ° ° 443
US/UNITED ARAB EMIRATES 430 4,601 2 ° 74 2,107
US/UNITED KINGDOM 151,563 507.002 593.054 30,643 44,633 1.326.892
US/URUGUAY ° 550 25 40 3 618
US/VENEZUELA 34,065 1.291 1,372 383 958 38.069
US/MULTIPLE 10,344 5.673 161.750 1.599- 972 180,278
US/THIRD TIER 138,438 221.739 272,004 5.784 6,931 610,696

SUBTOTAL 2/ 1,154,429 2,444,421 3,664,829 335,579 219,526 7,818,784
TOTAL ALL.

LANDHIGLOINGS 2,495,381 3,904,165 7,969,554 673,061 420,343 14,808,501

a/
2

TOTAL INTERESTS EXCLUDING U.S.

TOTAL

INTERESTS OF

CORPORATIONS WITH FORCIGN SIIAREHOLDERS.
U.S. CORPORATIONS WITH FOREIGN SHAREHOLDERS.

21


Summary

Foreign persons reported that they owned 14.8 million acres,: or
slightly more than 1 percent of the 1.3 billion acres of private-
ly owned U.S. agricultural land (farm and forest land) as of
December 31, 1991. Thils’is a 3-percent increase (419,474 acres)
over the 1990 data but [remains in the range of just above or
below the 1-percent figure,' where it has been since 1981.: These
and other findings are based on an analysis of reports submitted
to the U.S. Department jof Agriculture under the Agricultural
Foreign Investment Disclosure Act of 1978.

Information received at the time of reporting shows that forest
land accounts for 49 percent of all. foreign-owned acreage,
cropland for 17 percent, pasture and other agricultural land for

31 percent, and nonagricultural land for 3 percent.

Corporations own 73 percent of the acreage; partnerships, 19
percent; and individuals, 6 percent. The remaining 2 percent is
held by estates, trusts, institutions, associations, and others.

U.S. corporations in which foreign persons have a significant

interest or substantial control reported owning 53 percent of all
the foreign-held acreage. The remaining 47 percent was reported
as being held or acquired by foreign persons not affiliated with

a U.S. corporation.

Foreign persons from Canada, the United Kingdom, Germany, France,
Switzerland, the Netherlands Antilles, and Mexico account for 73
percent of the foreign-held acreage. Foreign persons from Japan
own only 3 percent of the foreign-owned acres.

A number of parcels are owned only in part by foreign investors;
that is, the foreign interest in some parcels is less than 100
percent, with the remaining percentage being owned, for example,
by a U.S. partnership. | When the 14.8 million acres are adjusted
for these partial interests, the total foreign-owned acreage
drops to an equivalent of 13.0 million acres.

The largest number of a
in Maine. Foreign hold
Maine’s privately owned
represent 19 percent of|

cres owned by foreign persons was reported
lings in Maine account for 16 percent of
agricultural land. These holdings

all the reported foreign-owned agricul-
tural land nationwide. | Four companies own 93 percent of the
foreign-held acres in Maine, all in forest land. Two companies

are Canadian, the third)
Canadian owned, and the
partially French owned.

Except for Maine, forei'
(34 percent) and South
the only States with no

Foreigners do not appea
out of production. No
filing was reported for

is a U.S. corporation that is partially
fourth is a U.S. corporation that is

gn holdings are concentrated in the West
(32 percent). Rhode Island and Alaska are
reported foreign-owned agricultural land.

x to be taking purchased agricultural land
change in intended use at the time of
94 percent of the acres.

viii



Acreage owned in the years listed is the total amount of land
that was reported purchased during that year and which remained
foreign owned as of December 31, 1991. Because land is con-
tinually being disposed| of by foreign owners or there are changes
in status from foreign to nonforeign or from agricultural to
nonagricultural, acreage amounts in each year are decreased by
these land dispositions] or status changes.

Table 7 adjusts reported current value by State for the same
reasons given in the discussion of table 6. Because the reported
current value in table ’ is adjusted by each State’s average
annual change in farmland value, the total adjusted current value
will differ from that of table 6. Simply explained, not all land
values in table 6 would| have changed at the national average.
Therefore, the total adjusted current value in table 7 should be
a better measure of value than that of table 6. The total
adjusted current value by State indicates a 4-percent increase
from the reported current value.

Country of Origin. Of the 14,808,501 acres of foreign-held
agricultural land reported by foreign persons, 53 percent is held
by U.S. corporations with foreign interests. The remaining 47
percent is held by foreign persons not connected with a U.S.
corporation (table 8).

Foreign persons from Canada own the largest amount of reported
foreign-held acres of U.S. agricultural land, 3,661,623 acres, or
25 percent. Foreign persons from the United Kingdom (U.K.),
Germany, and France own) 3,130,106 (21 percent), 1,201,599 (8
percent), and 1,106,735] (7 percent), respectively, an additional
36 percent. Foreign persons from Switzerland, the Netherlands
Antilles, and Mexico own an additional 11 percent of the acres.
These seven countries of origin own a total of 10,821,082 acres,
or 73 percent of all reported foreign-owned holdings of U.S.
agricultural land. Approximately 5 percent of the acreage,
691,579 acres, is owned| by unidentifiable third-tier persons;
that is, the acreage is| not attributable to any foreign country
of origin because no foreign country of origin is listed through
the third tier of ownership.

Foreign persons from tne United Kingdom, Germany, and Canada own
2,383,680 acres or 50 percent of the foreign-held acres in the
South (table 9). Eight] percent of the acreage, 405,433 acres, is
owned by unidentifiable] third-tier foreign persons. An
additional 18 percent, 885,180 acres, is owned by foreign persons
from the Netherlands Antilles, France, Switzerland, and Mexico.

In the West, foreign persons from the United Kingdom own more
acres than any other sihgle group--32 percent. Much of the U.K.
figure is attributable to a U.K partnership that owns 32 parcels
covering 712,295 acres and four U.S./U.K corporations that own 31
parcels covering 680,448 acres. Foreign persons from Germany,
Canada, and Mexico reported owning 1,219,647 acres or 24 percent.
An additional 1,321,547] acres, or 26 percent, were

12




TABLE 20--FOREIGN OWNERS OF U.S. AGRICULTURAL LAND ACQUISITIONS BY STATE,
JANUARY 1 - DECEMBER 31, 1991

(NUMBER )
INDIVIDUAL ORGANIZATION
STATE
AND U.S.
TERRITORY PARCELS ACRES PARCELS ACRES
REPORTED REPORTED
ALABAMA ° ° 1
ARIZONA ° ° 1
ARKANSAS 2 1.614 5
CALIFORNIA 1 36 8
COLORADO 4 aN7 °
FLORIDA 4 348 12
GEORGIA 4 572 73
HAWAII 2 952 4
ILLINOIS 1 156 12
INDIANA ° ° 5
IOWA ° ° 3
KANSAS ° ° 1
KENTUCKY 1 182 4
LOUISIANA ° ° 2
MAINE ° ° 4
MARYLAND 2 267 4
MICHIGAN ° ° 1
MINNESOTA ° ° 1
MISSISSIPPI ° ° 10
MISSOURI 2 330 2
MONTANA 1 580 4
NEBRASKA ° ° 1
NEVADA ° ° 1
NEW JERSEY ° ° 1
NEW MEXICO ° ° 3
NEW YORK 4 375 3
NORTH CAROLINA ° ° 6
OHIO 2 276 8
OKLAHOMA 1 4390 4
OREGON 1 515 10
PENNSYLVANIA 1 13 3
SOUTH CAROLINA 3 1,206 9
TENNESSEE 4 465 2
TEXAS 7 Bag 26
VERMONT 1 12 4
VIRGINIA 3 148 6
WASHINGTON ° ° 14 2,736
WISCONSIN 2 597 ° °
WYOMING ° ° 6 4,652
TOTAL 53 10,400 274 216,905
TABLE 21--FOREIGN-OWNED U.S. AGRICULTURAL LAND ACQUISITIONS
BY SIZE OF ACQUISITION, JANUARY 1 - DECEMBER 31, 1991
SIZE OWNERS PARCELS ACRES VALUE
(ACRES) REPORTING REPORTED (NUMBER) (1,000
(NUMBER) (NUMBER ) DOLLARS) 1/
LESS THAN 20 23 23 247 16,430
20-59 26 29 921 12,285
60-99 18 22 1.436 8,050
100-299 46 59 7.845 54,944
300-999 : 39 58 19,868 40,475
1000 OR MORE 33 136 196,988 167,022
TOTAL 185 327 227,305 299,206

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

29


Purchase Price and Value of Acquisitions. Corporations account
for 68 percent of the purchase price and nonpurchase price

(estimated value) at time of acquisition (table 22). The average
per acre purchase price| and nonpurchase price (estimated value)
is lowest for corporations at $1,223, followed by trusts and
other, $1,443; partnerships, $1,545; and individuals, $1,784.

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| 327 reports providing information on debt
($36,694,000) and current value ($301,464,000) resulted in an
equity figure of $264,770,000 (table 22). These figures reveal
an equity figure of 88 percent in relation to current value.

Country of Origin. ves! corporations with foreign interests
acquired 71 percent of the acreage. Foreign persons not
affiliated with a U.S. corporation acquired the remaining 29
percent (table 23). Foreign persons from Japan, Switzerland, and
Germany, U.S./France corporations, foreign persons not affiliated
with a U.S. corporation| from the United Kingdom, and unidenti-
fiable third-tier persons acquired 196,030 acres, 86 percent of
the total.

Half of the acres acquired during 1991 were in the South.
U.S./Switzerland and U.S./France corporations and unidentifiable
third-tier persons not affiliated with a U.S. corporation
acquired 74 percent of these acres (table 24). One U.S./Japan
corporation acquired 60/045 acres in the Northeast, 93 percent of
Northeast acres acquired in 1991.

TABLE 22--VALUE OF U.S. AGRICULTURAL LAND ACQUISITIONS BY TYPE
OF FOREIGN OWNER. JANUARY 1 - DECEMBER 31, 1991
{
ACRES ACRES.
WITH PURCHASE WITH NoN-
OWNERS PURCHASE | PRICE NON- + | PURCHASE
OWNER REPORTING PRICE (1,000 PURCHASE PRICE
(NUMBER) REPORTED | DOLLARS) PRICE (1,000
(NUMBER ) REPORTED DOLLARS)
(NUMBER)
INDIVIDUAL 47 9,880 18,208 520 350
CORPORATION 94 155,668 178,597 10,166 24,212
PARTNERSHIP 37 34,170 53,580 6.340 9,016
TRUST 6 6,866 12,074 3,680 687
OTHER 1 15 2,482 ° °
TOTAL 185) 206,589 264,941 20,706 34,265
ACRES ACRES
WITH CURRENT WITH EQUITY
CURRENT VALUE EQUITY (4,000
VALUE (4,000 REPORTED DOLLARS)
REPORTED DOLLARS) (NUMBER )
(NUMBER )
INDIVIDUAL 10. 400 18,603 10,400 14,058
CORPORATION 165,834 205,022 165,894 184,466
PARTNERSHIP 40.510 62,596 40,510 51,673
TRUST 10,546 12,764 10,546 12,091
OTHER 15 2,482 15 2,482
TOTAL 227.305 301,464 227.305 264,770
30



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

UANUARY 1981

- DECEMBER 199

CONTINUED.

ACQUISITIONS DISPOSITIONS
DATE
: PARCELS ‘ACRES, VALUE PARCELS ACRES VALUE
REPORTED. (NUMBER) "| (1,000 REPORTED (NuMBER) | (1,000
(NUMBER) DOLLARS )1/ (NUMBER) DOLLARS) 4/
1986 :
UANUARY ay 12,918 31.446 27 a.717 6.203
FEBRUARY 26 9.299 6.765, 18 11295 21415
MARCH 40 33.814 51.044 17 113060 10,505
APRIL 54 25,624 135.607 22 5.520 4,196
MAY 95 1,601,798 92.150 86 1,696,518 20.354
JUNE a8 93.681 44,682 33 ATL744 4129
JULY 34 26,835 32.707 20 19,474 231513
AUGUST 32 16.221 20,552 29 8,169 14.458
SEPTEMBER 34 36,048 58.043 26 31787 10,088
OCTOBER 134 240,258 62.668 33 11366 alas
NOVEMBER 46 15,605 17.371 32 91501 4,312
DECEMBER 119 50,610 97,563 74 57,950 48,922
TOTAL 703-2, 162,708 653,595 417 1,789,065 153,536
987 :
UANUARY 26 9,508 20,307 , 23 4,467 7,578
FEBRUARY 30 14,188 39,903 27 6.253 6,787
MARCH st 134,365 51.336 40 33,059 17.816
APRIL 62 68.315 29.808 72 27.647 30,026
MAY. 38 44.382 29.970 32 10,627 20.554
JUNE a7 203,785 49.532 , 87 226.697 25,126
vULY a4 27.981 34,392 35 30,206 14,904
AucusT 43 25,900 251055 36 7.826 36.194
SEPTEMBER 35 14.523 31.024 4a 6.594 13,257
OCTOBER 64 23,475 56.383 "38 15.346 8.723
NOVEMBER 43 137.928 27,770 a3 14,982 16,835
DECEMBER 92 94,229 63.946 156 38,413 |). 52,006
TOTAL 572 79n 879 ana, 524 soa AND ANT 2an,903
tono. .
UANUARY 6s 87.415 69,355 52. 26,268 22,604
FEBRUARY 39 26.275 18,564 48 48.563 32.184
MARCH 48 37,297 901570 101 57.464 49,338
APRIL 40 34,067 26,006 . 87 265.981 79.814
MAY, aa 55,451 48.841 87 34.946 12/872
JUNE 31 148,773 89,080 67 22.315 44,319
vULY 51 33.772 76,990 57 421859 23,246
AUGUST aa 347,906 57.284 64 308.537
SEPTEMBER 36 14,448 95.861 4s 8.451
OcroBeR 80 223,296 126,886 as 234,137
NOVEMGER 45 58,293 34,609 42 194,139
DECEMBER 94 265,952 219.433 100 333,578
TOTAL 677 1,302,945 946.479 4,189 1,548,298 491,088
1989
UANUARY 61 45,611" 66.840 46 21.970 13,151
FEBRUARY 31 25.331 90.545 27 6.543 7,291
MARCH 64 133,472 9.207 a7 31,158 11,504
APRIL 32 24,897 37.004, 27 20,593 16,899
MAY 53 27,772 125.548 38 5181 25.612
JUNE 43 65.968 54.695 46 17,031 7.178
vULY 31 13.731, 38,147 19 111872 11,855
AUGUST 45 65,302 57 68.553 27,168
SEP ITM 15 420,813 a9 5.102 10.611
OCTOBER 40 56.457 24 1,890 4,496
NOVEMBER 1 78.110 21 4,035 + 51684
DECEMBER 100 222,411 42 421940 23,425
MULTIPLE 1 63 ° ° °
TOTAL 653 1,680,279 1,043, 112 433 237.678 164,874
1990
UANUARY a9 31,251 68,183 32 8,458 5.731
FEGRUARY 49 79.525 40,538 27 111384 101174
MARCH 45 142,200 911163 30 85,012 53.039
APRIL, 36 54.775, 19.222 36 81867 10.945
MAY ay 19,257 85,375 42 25.591 49,431
+ JUNE 44 24.865 44.584 33 17,637 12,598
vULY 108 282.817 97.224 29 4.777 101912
AUGUST 30 7.612 21,242 34 5.940 9.335
SEPTEMBER : 76 614.850 38.881 30 10,155 5.394
OCTOBER 45 47,786 74,625 53 126,886 | 38.512
NOVEMBER 37 26.624 43,780 36 6,099 14,791
DECEMBER 180 156,594 84,989 46 23,135 + 27,040
MULTIPLE 1 27 17, 100 ° ° °
TOTAL 723° 1,485.1 726,313 A28 323,911 253,842
‘ CONTINUED ~:

45



foreign persons from Japan, the Netherlands, Luxembourg, the
Netherlands Antilles, Switzerland, and Panama.

In the Northeast, foreign persons from Canada and France own
3,159,547 acres, or 88 percent of the foreign-held acreage in the
region. Eighty-three percent of this figure, 2,634,680 acres, is
attributable to four companies with extensive forest holdings--
one Canadian company with partial interests in 79 parcels cover-
ing 1,210,260 acres, one Canadian company with 6 parcels covering
256, 228 acres, one U.S. /canada corporation with 41 parcels cover-
ing 727,207 acres, and one U.S./France corporation with 21
parcels covering 440, 979 acres.

In the Midwest, foreign

and Germany reported owning 777,324 acres,

foreign-held acreage in
the acreage is owned by

persons. from Canada, the United Kingdom,
63 percent of the
the region. An additional 20 percent of
multiple entities (entities that have

foreign owners from a number of countries, none of whom has a
predominant interest) and unidentifiable third-tier foreign

persons.

Interest in Land

Of the 12,722 parcels of foreign-held U.S. agricultural land,

percent of the parcels,
acreage, is held in fee

the estate in its entirety).

86
accounting for 80 percent of the reported
interest whole (that is, the owner holds
Partial interests are held in

another 7 percent of the parcels covering another 17 percent of

the acres (table 10).

Under the AFIDA regulati

ons, leases of 10 years or longer are the

only leases that need be reported. 4/ Leases are treated

separately because they
interest. Questions on

represent a totally different type of
value, tenure, and method of acquiring

land do not apply because the report form was not devised to deal

with leases. f

land.

Timber land accounts for 682, 230 acres,

Leases cover 1,126,396 acres of U.S. agricultural

or 61 percent of

the reported foreign ledseholds.

Method of Acquisition

More foreign investors r

seported paying cash for their U.S.

agricultural landholdings than using any other method of ac-
quisition--50 percent of the parcels, covering 35 percent of the

acreage (table 10).

Thils compares with 27 percent of the

parcels, containing 16 Bercent of the acreage, that were acquired
by credit only, and 7 percent of the parcels, containing 25

percent of the acreage,
The other method only ca

that were acquired by other method only.
itegory includes mergers, corporations

that became foreign because foreign persons obtained a signi-
ficant interest or substantial control in the corporations, or
an individual exchanging land for stock in a new corporation.

4/ 7 C.F.R. § 781.2(c)

(1991)
18



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

Person” means any individual, corporat 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, 95-460 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. | esl No

1, TAM a citizen of the United States. |

2. 1 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 answeris “YES” to any of

the statements numbered _4a, 4b, and 5 below. ! fyes[NO

4, 1AM a “person” other than an individual or government, which is created or organized under the laws of:
a._A foreign 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 control 1) is held directly or indirectly by any
foreign individual, government, or person. |

5. | AMa foreign government.

I 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-eame 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. DONT 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 Item 2 on the front side of this document was:

—Owned on February 1, 1979, check A-tang. } Reporting Date: This document is required to be
completed and returned by August 1, 1979.

If the tract of land tb be listed under Item 2 on the front side of this document was, on or after February 2, 1979:
Bnd ton GI

~Acquired, check © 5226s

Reporting Date:

Disposed of, cleck © If any of these activities are checked
—Changed from non-agricultural to agricultural use, check O23. Uw.cnacee ‘in Item 1, retum the completed
: + ne ASCS-153 within ninety (90) days
Changed from sgricultural to non-agricultural use, check E.tane uw crane To [ASC nea Af the teneege
ITEM 8, ‘The date entered would be as follows for the activity checked in Item 1:
Box A or B- Date acquired.
BoxC = Date disposed of.

Box D or E- Date landluse changed.

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

4/ Significant interest or substantial control os defined in 7 CFR 781.2 (k). . U.S. Government Printing Office: 1986—654-614

48



Preface

This report is made pursuant to section 5 of the Agricultural
Foreign Investment Disclosure Act of 1978, 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, 1991.

Contents

LiSt Of Tables... ccc cede c cee c ect e cece n cc cen ccc ceencceeneceee v
SUMMALY. 2. eee eee eee cece cece cece cece eee eeeeeeeeeeeeeeee VELL

“Introduction. .... ccc e eee cece eee c cece cece e eee eee en senncenas 1
Summary of the Act and Regulations...... o 1
Definitions. ... cee ee cece cece cece nce eens eee eeeeeceres 2

Analysis of Data Reported Under the Act.........c cece ee eeee 5
b: Co) Ke bi so | os 5
Acquisitions...... .- 27
Dispositions, Land-Use Changes, and Changes in Status.... 38
Bis foo te 40

Program CoStS and PenaltieS....ccececcccvcccccccccccccccceee 46

Appendix: Report Form |ASCS-153...c.eeeeeecccececcesecccvens 47



Tenants opérate 22: percent of the parcels: ‘acquired’ during ‘the
period’ and 17-percent of the acres, whereas foreign’ owners
operate -24 percent of the parcels and 35° percent ofthe acres
(table 32). Managers, however, operate only 7 percent of the’
parcels and 4 percent of the acres. No responses on tenure were
received for 47 percent of the parcels covering 44 percent of the
acres. “No ‘rental agreements were reported for any of the acreage
acquired in 1991. se .

Tenure’ Change

Reports for 28 percent of the parcels acquired during the period
indicate no tenure change for 21 percent of the acreage (table
32). Reports for 26 percent of the parcels, containing. 37

TABLE 31--INTENDED USE OF U.S.: AGRICULTURAL ‘LAND ACQUISITIONS OF FOREIGN OWNERS,; .-

: JANUARY 1 - DECEMBER 31, 1991
(NUMBER )
ITEM NO CHANGE OTHER OTHER NON-. | NO” REPORT * TOTAL

AGRICULTURE | AGRICULTURE

INDIVIDUAL:
PARCELS REPORTED 46 4 3 ° 53
ACRES 10,004 292 104. ° 10,400
ORGANIZATION:
PARCELS REPORTED. 230 17 2a 3 274
ACRES 204,504 5.035 6,913 453 * 216,905
TOTAL:
PARCELS REPORTED 276 24 27. 3 327
ACRES 214,508 5.327 7.017 453 227,305

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

UANUARY 1 - DECEMBER 31, 1991

. PARCELS ACRES VALUE

: TENURE REPORTED (NUMBER) (1,000

(NUMBER) OOLLARS). 4/
CURRENT: :
FOREIGN OWNER 17 79.638 55,825
MANAGER 23 9.000 6.179
TENANT 72 37,762 68,362
NO REPORT 155. 100:805.. « 168,840
TOTAL 327 227,305" 299,206
RENTAL:
NO REPORT 250 147,667 243,381
NOT APPLICABLE 77 79.638 55,825
TOTAL 327 227,305 299,206
INTENDED CHANGE: . ‘

NONE . 93 47,524 88,353
NEW Ba 83,693 51,609
NO REPORT 150 96,091 159,244
TOTAL 327 227,305 299,206

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

oN

37


acquisitions are in these two land-use categories (tables 26 and
27). The bulk of these acquisitions, 61 percent, were in Maine
(table 27).

U.S./Japan and U.S./France corporations purchased most of the
U.S. forest land or forest and other nonagricultural lands (table
28), accounting for 84 percent of such acquisitions, 83,478
acres.

TABLE 27--U.S. FOREST AND OTHER NONAGRICULTURAL LAND
ACQUISITIONS OF FOREIGN OWNERS BY STATE
UYANUARY 1 - DECEMBER 31, 1991

STATE PARCELS ACRES VALUE
AND U.S. REPORTED (NUMBER ) (14,000
TERRITORY (NUMBER ) DOLLARS) 1/

ALABAMA 9 16.773 11,843
COLORADO 2 60 53
FLORIDA 1 1,062 180
GEORGIA 30 8,783 5,301
LOUISIANA 1 2,006 1,684
MAINE 4 61,154 17,831
MISSISSIPPI 5 2,171 1,097
NEW YORK 2 173 24
NORTH CAROLINA 2 67 50
OKLAHOMA 1 531 93
OREGON 2 640 715
SOUTH CAROLINA 6 2,340 1,507
TENNESSEE 2 3.405 315
VERMONT 5 266 202
VIRGINIA 4 186 116
WASHINGTON 2 254 120

TOTAL 738 99,871 41,128

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

TABLE 28--U.S. FOREST AND OTHER NONAGRICULTURAL LAND ACQUISITIONS
BY COUNTRY OF FOREIGN OWNER, JANUARY 1 - DECEMBER 31, 1991

OWNERS PARCELS ACRES VALUE
COUNTRY REPORTING | REPORTED (NUMBER ) (1,000
(NUMBER) | (NUMBER) DOLLARS) 4/

CANADA 5 6 1,328 166
GERMANY 7 10 3,344 2,739
SPAIN 1 1 212 65
SWITZERLAND 1 2 60 53
UNITED KINGDOM 1 7 4,345 2,953
SUBTOTAL 2/ 15 26 9,289 5,976
US/BELGIUM 1 2 67 50
US/CANADA 6 8 2,696 1.654
US/CHINA 1 1 571 200
US/FRANCE 4 35 23,346 13,002
US/JAPAN 2 2 0,132 19,888
US/SWEDEN 1 1 531 93
US/UNITED KINGDOM 2 2 3,239 265
SUBTOTAL 3/ 17 52 90,582 35,152
TOTAL 32 78 99,871 41,128

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

35


The data in this. report, should be viewed in light of the. fore-
going caveats and those accompanying the tables. Reporters’
errors must also be considered in reviewing this study. Result-
ing data deficiencies are noted where 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 14.8 million foreign-owned acres, 53. 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 foreign owners reporting partial interests in the
real estate. These partial interests reduce the 14.8 million
acres to an equivalent of 13.0 million acres.

Analysis of Data Reported Under the Act
Holdings

Data in this section are derived from the 12,722 reports filed by
foreign persons who held land as of December 31, 1991. These
report forms account for 14,808,501 acres of all U.S. agricul-
tural land. This is an increase of 419,474 acres over the
14,389,027 acres foreign owners reported owning as of the end of
last year. 3/ This 419,474-acre increase is more than the
227,305 acres acquired during 1991, as reported in the acquisi-
tions discussion. The reason for this difference is because of
acreage acquired prior to December 31, 1990, the closing date of
last year’s report, that was reported after that date.

Concentration of Foreign Ownership of U.S. Agricultural Land

Foreigners have reported acreage holdings in 48 States and Puerto
Rico (table 1 and fig. 1). Rhode Island and Alaska are the only
States with no reported foreign-owned agricultural land. Except
for Maine (described below), only a small percentage of privately
held agricultural land in the other 47 States is foreign owned
(table 1 and fig. 2). Deleting the acreage for Maine from the
Northeast data, foreign investment in U.S. agricultural land is
concentrated in the West (34 percent) and South (32 percent)
(table 9).

Maine has the largest amount of foreign-owned U.S. agricultural
land, 2,828,483 acres, or 16 percent of the privately owned
agricultural land in the State and approximately 19 percent of
the reported foreign-owned agricultural land in the United
States. Most of the foreign-owned agricultural land in Maine,
2,634,680 acres, is timber land owned by four companies. One

3/ The 14,445,741 acres reported in last year’s report overstated
the amount of foreign-held U.S. agricultural land because of filing
errors and reductions in the nonagriculture category. The 1990
figure has been adjusted downward to 14,389,027 acres.

5


Appendix: Report Form ASCS-153

Form Approved - OMB No, 0560-0097

———_—
ASCS-153 U5. DEPARTMENT OF AGRICULTURE 7 TYPE ACTIVITY (See Hever) (Check one)
(08-28-84) Agricultural Stabiilzation and Conservation Service

Adang DC] Bla o¢ o
AGRICULTURAL FOREIGN INVESTMENT DISCLOSURE ACT REPORT Holding Resutatton * Bispostion

NOTE: Read Instructions on Reverse Before Filling in Any Data Below. If Additional Space |D.Land Use Change [) _E. Land Use Change To [—]
is Needed; Use Reverse, ‘To Agricuiture Non-Agricutture

eM OFFICE TEM
5, Type of Interest Held in the Agricultural Land (Check One) _| CHECK
‘A, Fee Interest (ownership) Whole
B, Fee Interest (ownership) Partial PERCENT r
©, Life Estate
D. Trust Beneficiary
E, Purchase Contract
. Other (explain)

2. Tract Location and Description
A, LEGAL DESCRIPTION OR ASCE TRACT NUMBER

B, COUNTY OF PARISH E NO.OF ACR

m

DSTATE

3. Owner of Tract (in item 2A) (See Reverse)

A, NAME 6, How was this Tract Acquired or Transferred? CHECK
‘A. Cash Transaction
B15 NO. (Nine digits) CHEEK IF NO. B. Credit or Installment Transaction
NOT KNOWN Sie

TLEGAL ADDRESS (Street, City, State/Province, Country)

D. Gift or Inheritance
E. Foreclosure
F. Other (explain)

D. Type of Owner (Check one) CHECK
1, Individual (including husband/tife)
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 eeller. I$
3. Organization B. NonPurchase, Estimated Value at the |
PyEeccoraion Tineof Aeqiiton s
2) Paths ©. What je the timated curent value oF if « ]
Sitio rice of the
3) Estate tract ‘of land” TM s P s
4) Trust D. How much of purchase price in Item 7A |
5) Institution remains to be pai s
6) Association ©. Date of Acquisition or er pe al
7) Other Transfer (See Reverse)
b. Gov't. or country under whose 8, Current Land Use (Usuel use of land. For idle land, ACRES
Jaw the organization is created report es other Agriculture.) Report in Whole Numbers}
©. Principal place of business (for |
‘organizations only) A. Crop
a. Liston separate sheet, the rae Address and County of Pe " B, Pasture
foreign pereons who individually’or in the aggregate hold significant "
ieee ee eeberatal contol d) St the person owning the lan C. Forest or Timber
E, Complete only If item 1C - Land Disposition - is checked D. Other Acriculture
J NAME OF PERSON RECEIVING TRACT E. Non-Agriculture
F. Total (Should equal 2C)
ZADDRESS (Street, City, State/Province, Country) 70. Intended Use as of This Dato (Check One) check
‘A. No Change
B. Other Agriculture
Serrizensnie ccultur
usa []_Foreicn [] unknown L] C__Non-Agriculture

j_ Relati f Fore
 Reprevntative of Forsign Porson [completing form, IV aoplicabie] Ti. Relationship of Foreign Owner to Producer (if appleebie) | enecn
RNAME A. Produceris:

1. Foreign owner

2, Manager

3,_Tenant or sharecropper
B. Rental agreement is:

B ADDRESS (Street, State, Country

©. TELEPHONE NO. (Area Code) 1, Accrop share
D. Relationship of Representative to Foreign Person ‘CHECK
1. Attomey 2, Cash or fixed rent
2, Manager 12, The Producer on This Tract ist 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, I understand that falsification of reporting is subject
toa civil penalty not to exceed 25% of the fair market value of the interest held in the tract of land.

"J4, SIGNATURE (Owner or legally authorized representative) TITLE DATE

FOREIGN PERSON COPY

47


Figure 4

State Concentration of Forelgn Ownership of Agricultural Land, December 31, 1991

Legend: Acres

0 049,999

(2 50,000-99,999
i 100,000-199,999
200,000-399,999

400,000 & over

Figure 2

Proportion of Forelgn-Owned Agricultural Land to All Privately Owned
Agricultural Land In the United States, December 31, 1991

CO sLess than .1%
fA .1t0.9%

1.0 to 1.9%
2.0% or more



Foreign Ownership of U.S. Agricultural Land Through December 31,
1991, by J. Peter DeBraal, Resources and Technology Division,
Economic Research Service, U.S. Department of Agriculture. ERS
Staff Report No. AGES 9211.

Abstract

Foreigners owned 14.8 million acres of U.S. agricultural land as of
December 31, 1991. This is slightly more than 1 percent of all
privately held agricultural land and’0.65 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 acquisitions, land dispositions. "

Washington, DC 20005-4788 April 1992


Concentration of Foreign Acquisitions of U.S. Agricultural Land

Forty-six percent of the acres acquired during 1991 were in Maine
and Mississippi (table is). Fifty percent of the acquisitions
were concentrated in the South (table 24). The concentration of
acquisitions in the South is due primarity to U.S./France and
U.S./Switzerland corporations’ acquisitions of forest land.

Characteristics of Foreign Owners

Type of Foreign Owner. |Corporations reported acquiring 62
percent of the parcels and 73 percent of the acres (table 19).
Individuals account for |5 percent of the acres; partnerships, 18
percent; and trusts and |others, 5 percent. When partial
interests of foreign investors are taken into account, the
227,305 acres drop to an acreage equivalent of 225,312.

Corporations acquired an average of 3,817 acres per parcel, or
1,764 acres per owner, compared with individuals who acquired an
average 196 acres per parcel, or 221 acres per holder. Partner-
ships reported acquisitions averaging 750 acres per parcel, or
1,095 acres per owner; and trusts and others reported 621 acres
per parcel and 1,508 acres per owner.

The largest acreage acquire by individuals during the period was
reported for Arkansas and South Carolina (table 20). Organi-
zations reported acquiring the largest acreage in Maine and
Mississippi.

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 (18 percent of the owners)
acquired approximately 87 percent of the acres, and owners of
parcels with less than 1, 000 acres (82 percent of the owners)
acquired the remaining 8 percent of the acres. All parcels of
1,000 or more acres accounted for 56 percent of the total value.
The value per acre, however, is concentrated in the reports of
holders of less than 1,000 acres--$4,386 per acre, compared with
$848 per acre for holdings of 1,000 or more acres.

TABLE 19--U.S. AGRICULTURAL LAND ACQUISITIONS BY TYPE OF FOREIGN OWNER,
JANUARY 1 - DECEMBER 31, 1991
(NUMBER)

PARCELS WITH
OWNER OWNERS RARCELS ACRES PARTIAL ACREAGE

REPORTING| REPORTED INTERESTS EQUIVALENT 2/
REPORTED 1/

INDIVIDUAL aT 53 10.400 1 10,316
CORPORATION 94 203 165,834 12 164,025
PARTNERSHIP, 37 54 40,510 2 40,410
TRUST 6 16 10.546 ° 10,546
OTHER 1 1 15 ° 15

TOTAL 185 327 227,305 15 225,312

A/- 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

28



TABLE 9--FOREIGN OWNERSHIP OF U.S. AGRICULTU#AL LANDHOLDINGS BY U.S. REGION,
DFCEMBER 31, 1994
(NUMBER)
SOUTH West NORTHEAST MIDWEST
COUNTRY
earcets | Acres | parcers | acres | parcers | acres | parcets | acres
|
‘ARGENTINA 35 6,664 5 4,885 3 1,798 1 80
AUSTRALIA 7 1,794 4 1,420 1 13 3 222
AUSTRIA sa [23,844 10 * 29,151 3 106 10 2,788
BAHAMAS 33 6.778 7 18,645 6 1,123 1 7,200
BAHRAIN ° ° ° ° ° ° 5 553
BARBADOS 3 147 ° ° ° ° ° °
BELGIUM 26 8.119 5S 81,777 14 986 10 2,486
BELIZE 4 159 1 25 ° ° 1 365
BERMUDA 22 |67,526 7 1,500 7 2,011 30 2,695
BOLIVIA 2 44 ° ° ° ° ° °
BRAZIL 7 4,805 1 320 1 137 ° °
BRITISH VIRGIN ISLANDS za jas. 989 3 4,203 6 7,839 5 11,930
CANADA 316 /70,395 508 21,007 682 1,550,307 178 69,008
CAYMAN ISLANDS at 14,609 6 2.450 1 74 12 6.091
CHILE 3 436 4 960 ° ° 1 160
CHINA 4 141 2 263 ° ° 1 92
COLOMBIA 37 11,380 ° ° ° ° 1 100
COSTA RICA 7 2,429 1 10,840 ° ° 1 150
cUBA 2 20 ° ° ° ° °
CZECHOSLOVAKIA 2 30 ° ° ° 3 455
DENMARK 3 732 8 5,984 5 ass 7 2,514
DOMINICAN REPUBLIC 3 a9 ° ° ° ° 9 2,079
ECUADOR 29 976 ° ° ° ° ° °
EGYPT 12 1,895 1 97 1 100 1 42
EL SALVADOR 5 309 ° ° ° ° ° °
FRANCE 93 19, 160 43° 47,833 22 12,360 24 7,772
GAMBIA 1 294 ° ° ° ° °
GERMANY 778 956,656 298 © 227,775 137 39,884 376 © 192,432
GREECE 7 |S4.789 2 1,439 2 90 10 14d
GUATEMALA T a73 ° ° 2 307 1 242
GUYANA 1 35 ° ° ° ° ° °
HONDURAS 14 892 ° ° ° ° ° °
HONG KONG 35 6.646 aa 5.793 7 1,657 3 667
HUNGARY ° ° ° ° 2 110 ° °
INDIA 5 1,108 7 556 1 23 ° °
INDONESIA 4 752 1 52 ° ° ° °
TRAN 5 396 7 at 5 788 T 958
IRELAND 4 6,671 1 3,600 ° ° 4 434
ISRAEL 2 364 1 61 1 159 3 483
ITAL 21 946 16 2,374 4 756 6 843
IVORY COAST ° ° ° ° 1 419 ° °
UAMAICA 4 1,631 ° ° ° ° ° °
UAPAN 260 [31.945 70 136,063 4 104 17 19,580
YORDAN 12 719 2 1,971 2 229 3 et
KAMPUCHEA ° ° ° ° ° ° 1 34
KOREA (SOUTH) 4 479 2 957 1 100 ° °
KUWAIT 3 493 2 224 1 217 3 695
Laos 1 a4 ° ° ° ° ° °
LEBANON 2a 7,212 5 2,410 6 843 10 2,817
LIBERIA 7 1,500 10 -23,.381 4 4,689 1 114
LIECHTENSTEIN 7a. |741543 54 57,193 15 2,210 21 10,425
LUXEMBOURG 6 3,185 2 505 ° ° 1 286
MALAYSIA 4 40 4 7,908 ° ° oO °
MEXICO 244 © 143,205 19 30,459 1 27 4 864
Morocco ° ° 1 360 3 515 1 160
NAMIBIA 2 106 ° ° ° ° 1 91
NETHERLANDS 153 [51,092 65 36,955 31 10,453 53 14,354
NETHERLANDS ANTILLES 244 77,806 99 157,653 a4 6.602 36 0 -24,.669
NEW ZEALAND 1 113 2 350. ° ° ° °
NICARAGUA 4 1,378 ° ° ° ° ° °
NORWAY 2 654 3 361 ° ° 17 4,532
OMAN 4 192 1 262 ° ° ° °
PAKISTAN ° ° 9 2.174 ° ° ° °
PANAMA 195 |n7,593 ?5 70,770 6 2.622 8 7,090
PERU 17 182 1 at 1 15 ° °
PHILIPPINES. 4 887 28 2,820 ° ° 3 156
POLAND ° ° ° ° 1 147 ° °
PORTUGAL 2 510 3 ant 1 385 ° °
ST VINCENT 3 1,318 ° ° 1 1,319 ° °
SAUDI ARABIA a2 14,520 10 19,842 1 3,628 5 661
SINGAPORE 1 24 3 504 ° ° ° °
SOMALIA ° ° ° ° 1 1 ° °
SOUTH AFRICA 1 17 2 1,462 3 A614 ° °
SOUTHERN RHODESIA 1 230 ° ° ° ° ° °
SPAIN 7 997 5 632 ° ° 5 997
SWEDEN 16 4,264 7 (25,670 3 313 4 2,087
SWITZERLAND att 50.045 87 108,839 43 16,227 55-25, 162
SYRIA 6 4.178 1 194 2 334 ° °
TAIWAN 12 8.690 19 2,254 ° ° 5 985
TANZANIA 2 143 ° ° ° ° ° °
THAILAND, 2 199 ° ° ° ° 3 113
TRINIDAD & TOBAGO 3 73 ° ° ° ° 1 58
TURKEY ° ° 1 38 ° ° 1 520
TURKS ISLANDS ° ° 6 798 1 160 5 2,234
UNITED ARAB EMIRATES. g 1426 4 384 ° ° ° °
UNITED KINGDOM 183 831,040 83 814,706 45 (79,181 83 (78,287
URUGUAY 2 +570 2 320 ° ° 4 8,917
CONTINUED ~~
16



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Ask for Foreign-Owned Agricultural Land database, order #87015, $130. Charge
your purchase to your VISA or MasterCard, or we can bill you. Or send a check or
purchase order (made payable to ERS-NASS) to the address above. For non-U.S.
addresses (including Canada), add 25 percent.

For further information on this database, write to J. Peter DeBraal, Room 408, 1301
New York Avenue, NW., Weshinaton, DC 20005-4788 or call (202) 219-0425.



the acres (table 36). |As should be expected, sales prices per
acre were higher. for smaller parcels.. Average selling price for
parcels of less.than 20: acres was $32,390 per acre, compared with
$302 per acre -for parcéls of: 1,000 or more-acres. Average
selling price of all reported dispositions: was $386 per acre.

Country of Origin. U. Ss. /Japan and U.S./Mexico corporations
disposed of most of the acreage--75 percent. (table 37).. Most of
the dispositions occurred in the Northeast, 50 percent of. the
acres, and West, 31’ percent of: the acres (table 38). One
U.S./Japan corporation |accounted for 95 percent of the. acres
disposed of in the Northeast, and one U.S./Mexico corporation
accounted for 87 percent of the acreage disposed of in the West.

Land Use

Three percent of the dispositions were cropland; 30 percent,
pasture; 65 percent, forest; 1 percent, other agriculture; and 1
percent, other. nonagriculture (table 39). One U.S./Mexico
corporation disposed of 87 percent of the pasture land and one
U.S./Japan corporation |disposed of 73 percent of the forest land.

Trends

The data for 1991 are generally biased toward the first part’ of
the year, whereas the data for 1981 through 1990 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 allow persons 90 days to report their trans-
actions 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 bias is also due
to reports that are not timely filed and/or completed by the
closing date. The foregoing discussion also means that the 1991
data, and in some instances data for prior years, are.understated
and should be regarded jas preliminary.

Foreign ownership of U.S. agricultural land‘ has remained rel-
atively steady from 1981 through 1991--slightly above or below 1
percent of all privately owned agricultural land in the United
States (fig. 3). Most | £ the fluctuation is attributable to
changes in the forest holdings, rising from 7.2 million acres in
1981 to 8.1 million in [1984, dropping to 6.0 million in 1989 and
rising to 7.3 million in 1991. These changes are mainly due to
million-acre-plus transactions by large timber companies:
Looking at the crop, pasture, and other agriculture figures
reveals a steady but relatively small increase in the numbers.
Cropland rose from 1.7 Inillion acres in 1981 to 2.5 million
acres in 1991; pasture,| from 2.8 to 3.9 million acres; and other
agriculture, from 0.5 to 0.7 million acres.

40


TABLE 13-7U.S. FOREST AND OTHER NONAGRICULTURAL
| LANDHOLDINGS
BY COUNTRY OF FOREIGN OWNER, DECEMBER 31, 1991

(NUMBER)
COUNTRY OWNERS. PARCELS ACRES

ARGENTINA 2 2 240
AUSTRALIA 3 4 520
AUSTRIA 7 19 16,809
BAHAMAS 1 1 7.200
BARBADOS 1 1 738
BELGIUM 3 3 174
BELIZE 1 2 102
BERMUDA 7 19 At.56t
BRITIS! VIRGIN ISLANDS 2 a 71394
CANA 266 417 1,591,830
CAYMAN ISLANDS 3 4 21210
DENMARK a 4 11676
EGYPT 3 a 140
EL SALVADOR 1 1 50
FRANCE 8 1 7,306
GERMANY 197 210 142/098
GREECE a 3 118
GUATEMALA t 1 1o8
HONG KONG 2 s 4,069
INDIA 1 1 eat
TRAN 3 3 243
ISRAEL 1 1 76
ITALY 1 1 80
YAMAICA 1 1 1,310
UAPAN a a sliaa
YORDAN 3 4 204
KOREA (SOUTH) 1 1 353
LEBANON 2 2 a4
LIBERIA 2 2 4,290
LIECHTENSTEIN a 12 14,030
LUXEMBOURG. 1 1 250
MEXICO 2 3a 208
NETHERLANDS 5 8 4,075
NETHERLANDS ANTILLES 20 30 39.ait
NORWAY 1 1 14
PANAMA 6 Fy 16.944
PHILIPPINES 4 5 203
ST VINCENT 1 4 20
SAUDI ARABIA 3 3 665
SOMALIA 1 1 "4
SPAIN 1 1 212
SWEDEN 3 3 770
SWITZERLAND 18 22 10,175
SYRIA 2 2 447
TAIWAN 1 1 96
TURKS ISLANDS 1 1 5
UNITED ARAB EMIRATES 1 2 705
UNITED KINGDOM 38 122 1,856,487
VENEZUELA 8 9 11728
VIETNAM 1 1 152
MULTIPLE 7 a 5.619
THIRD TIER 4 9 aa 360

SUBTOTAL 1/ 621 985 3,468,610
US/AUSTRALIA 1 1 315
US/AUSTRIA 3 5 2,357
US/BAHAMAS, 1 2 31384
US/BELGIUM 6 24 6.576
US/BERMUDA 5 20 10.778
US/BRITISH VIRGIN

ISLANDS 1 3 1,023
US/CANADA 38 447 1,370,890
US/CAYMAN ISLANDS 1 1 640
US/CHINA 1 a 1,527
US/DENMARK 4 4 5.176
us/eGyPT 1 1 155
US/F INLAND 2 7 2,308
US/FRANCE 16 toa 821.476
US/GERMANY 19 50 31820
US/GREECE 1 4 447
US/TRELAND 1 3 1.604
US/TTALY 1 1 508
US/JAPAN 16 24 72,835
US/KENYA 1 1 32
US/KUWATT 1 1 772
US/LIBERIA 4 4 3,520
US/LIECHTENSTET 2 3 6.648
US/LUXEMBOURG 1 1 8
US/MEXICO 1 1 63
US/NETHERLANDS 9 23 5.166
US/NETHERLANDS ANTILLES 8 13 11673
US/NORWAY 1 1 25
US/PANAMA 4 a 2,242
US/PHILIPPINES 3 a 796
US/OATAR 1 1 219
US/SAUDI ARABIA 2 20 4,793
us/sMepEN 1 1 531

SWITZERLAND 12
US/TAIWAN 1 = 55.908
US/UNITED KINGDOM aa 204 546,604
US/VENEZUELA 3 3 1,787
US/MULTIPLE 5 15 t611391
US/THIRD TIER 3 119 2351601

SUBTOTAL 2/ 225 1,222 3,361,473
TOTAL ans 2,207 6,830,083

|

A/_ TOTAL INTERESTS EXCLUDING U.S. CORPORATIONS WITH
FOREIGN SHAREHOLDERS.

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

24



Interest in Land

Ninety-one percent of the parcels, accounting for 79 percent of
the reported acres, were acquired in fee interest whole (table
25). Five percent of the acres account for a less than complete
ownership interest.

Method of Acqu on

Seventy-five percent of the parcels, covering 31 percent of the
acres, were acquired for cash only (table 25). This compares
with 10 percent of the parcels, covering 27 percent of the acres,
acquired by credit and 8 percent of the parcels, covering 34
percent of the acres, acquired by other method only.

Land Use

Of the acres acquired in 1991, 64 percent were in forest, 15
percent in crop, 14 percent in pasture, 3 percent in other
agriculture, and 4 percent in other nonagriculture (table 26).
Unidentifiable third-tier interests acquired 30 percent of the
cropland; U.S./Japan and U.S./Switzerland corporations acquired
68 percent of the forest land; and U.S./France corporations
acquired 51 percent of the other nonagricultural land.

Separating out data -on reports for only forest or forest and
other nonagricultural land shows that 44 percent of the

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

UANUARY 1 - DECEMBER 31, 1991
(NUMBER)
ITEM PARCELS ACRES
FEPORTED
INTEREST:

FEE INTEREST WHOLE 298 218,579
FEE INTEREST PARTIAL 1/ 15 5,529
LIFE ESTATE 3 1,206
TRUST BENEFICIARY 7 1,268
PURCHASE CONTRACT 4 723
TOTAL 327 227,305

METHOD OF ACQUISITION:
CASH ONLY 24a 85,199
CREDIT ONLY 33 62,002
TRADE ONLY 9 1,331
GIFT/INHERITANCE ONLY 3 630
FORECLOSURE ONLY 3 908
OTHER METHOD ONLY 25 76,485
CASH & CREDIT ONLY 7 620
CASH & TRADE ONLY 1 58
NONCASH COMBINATIONS 2 72
TOTAL 327 227,305

OWNER-REPRESENTATIVE:
ATTORNEY 174 154,841
MANAGER a4 34,093
AGENT 21 7,704
OTHER 72 28,162
FOREIGN OWNER 16 2,505
TOTAL 327 227,305

4/ 1HE FEE INTEREST PARTIAL IS USED FO? THOSE PARCELS WHICH ARE
OWNED ONLY IN PART BY THE FOREIGN INVESTOR: THAT IS. A PERCENTAGE
INTEREST LESS THAN 100 PERCENT.

33


The cash and credit only category covers an additional 9 percent
of the parcels and 15 percent of the acres.

Relationship of Foreign Owner to Representative

Forms were most commonly completed by the attorneys, accounting
for 32 percent of the parcels and 39 percent of the acreage
(table 10). The second largest group is the other category,
which includes accountants, family members, and people associated
with or employed by corporations. People in the other category
filed forms for 23 percent of the parcels, representing 19
percent of the foreign-held agricultural land.

Land Use

Forty-nine 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, or-
chards and vineyards) total 48 percent of all foreign-owned
holdings, but only 0.5 percent of all privately held agricultural
land in the United States. The other nonagriculture category

TABLE 10--FOREIGN-OWNED U.S. AGRICULTURAL LANDHOLDINGS
BY TYPE OF INTEREST, METHOD OF ACQUISITION,
AND OWNER-REPRESENTATIVE, DECEMBER 31, 1991

(NUMBER )
ITEM PARCELS ACRES
INTEREST:
FEE INTEREST WHOLE 10,954 11,810,860
FEE INTEREST PARTIAL 1/ 828° 2,493,367
LIFE ESTATE 45 9,758
TRUST BENEFICIARY 181 444,771
PURCHASE CONTRACT 619 328,314
OTHER 65 54,431
TOTAL 12,722 14,808,501
METHOD OF ACQUISITION:
CASH ONLY 6.350 5,128,791
CREDIT ONLY 3,438 2,307,495
TRADE ONLY 269 320,147
GIFT/INHERITANCE ONLY 333 228,503
FORECLOSURE ONLY 33 45,537
OTHER METHOD ONLY 929 3,720,141
CASH & CREDIT ONLY 1,140 2,154,637
CASH & TRADE ONLY 70 587,834
CASH & ANY OTHER COMBINATION 42 55,492
NO REPORT 45 44,807
NONCASH COMBINATIONS 73 245,117
TOTAL 12,722 14,808,501
OWNER-REPRESENTATIVE:
ATTORNEY A,iit 5,740,051
MANAGER 2,005 3,824,002
AGENT 1,567 1,129, 150
OTHER 2.875 2,882,897
FOREIGN OWNER 2,007 1,045,097
NO REPORT 157 187,304
TOTAL 12,722 14,808,501

i1/ 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.

19


the Pacific Islands, or 3) is not lawfully admitted into the
United States for permanent residence. Any person who holds an
Immigration and Naturalization Service Form I-151 or.I-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 that 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 indi-
vidual 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 partnership, with the
partners’ names and citizenship listed on the back of the forn.
Occasionally, however, two people will file as individuals, each
filing a separate report on the same land with a partial interest
of, for example, 49 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 part-
nership. 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 report-
ing 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 "significant interest or sub-
stantial 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.


TABLE 36+-DISPOSITIONS “OF FOREIGN-OWNED U:S. ‘AGRICULTURAL ‘LAND
BY SIZE.OF DISPOSITION, JANUARY 1° DECEMBER 31, 1991, °

* OWNERS PARCELS jf] - 0 fe sot SELLING.
SIZE REPORTING REPORTED ACRES PRICE
(ACRES) (NUMBER ) (NUMBER ) (NUMBER ) (4,000
. . os rs DOLLARS) 1/.
LESS’ THAN 20 " 17 ‘24 2 146 4,729
20-59 15 18: 487: 2,794
60-99 fo 10 735 6,369
100-289 12 441390 1/828 8,507
300-999 20. 57 10,394 13,196
1000. OR MORE 20 127 363,704 109,871
TOTAL ga 2a9 377,294 145,466

4/ SELLING PRICE IS VALUE AT TIME OF DISPOSITION.

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

TABLE. 37
OWNER, JANUARY 1 ~ DECEMBER, 31,. 1991
OWNERS PARCELS SELLING
COUNTRY REPORTING | REPORTED ACRES PRICE
(NUMBER ) (NUMBER ) (NUMBER ) (1,000
DOLLARS) 4/

BRITISH VIRGIN ISLANDS tous Ay 74 46
CANADA Bo 9 536 468
GERMANY 17 123 7.752° ° 7,983
JAPAN 2 2 3.713 720
LUXEMBOURG 1 1 2,509 1,307
MEXICO ‘2 2 169 1,286
MONTSERRAT 1 a 145. 145
NETHERLANDS, ANTILLES 2 2 1A7 134
PANAMA © -* 2° 3 3,106 3,474
SAUDI ARABIA 2 2 38 4,156
SWITZERLAND | 3 3 267 609
UNITED KINGDOM 10 126 43,613 6,765
URUGUAY 1 -4 : 584 21,753
VENEZUELA 1 4 14 12

SUBTOTAL -2/ 53. 77 62,661” 28,852
US/BELGIUM ° 1 4 79 71
US/CANADA 6 “18 6,961 7,020
US/CAYMAN ISLANDS 1 1 636 1,460
US/F INLAND 1 3 698 390
US/FRANCE 5 36 6.755 7.681
US/GERMANY 2 3. a56 1,478
US/ITALY 1 4 199 239
US/JAPAN 3, 3 181,865 78,346
US/MEXICO 1 2 100,000 6,945
US/NETHERLANDS ANTILLES 2 5 706 1,064
US/PANAMA 2 2. 650 2,600
US/SPAIN, 1 144 1,250
US/SWITZERLAND 3 723 1,557
US/UNITED KINGDOM” 9 51 14,44t 5,049
US/THIRD- TIER 3 30 3,350 1,464

SUBTOTAL 3/ at 172 314,633 116,614
TOTAL ALL A

LAND DISPOSITIONS 94 "28 377,294 145,466

A/ SELLING PRICE IS VALUE AT TIME OF DISPOSITION.

2/ TOTAL INTERESTS EXCLUDING U.S.

SHAREHOLDERS.

CORPORATIONS WITH FOREIGN

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

41


TABLE 39--DISPOSITIONS OF U.S. AGRICULTURAL LAND BY COUNTRY OF FOREIGN OWNER, BY USE,

JANUARY 1 - DECEMBER 31, 1991
(ACRES)
COUNTRY CROPLAND PASTURE FOREST OTHER OTHER NON- TOTAL
AGRICULTURE | AGRICULTURE

BRITISH VIRGIN ISLANDS ° 74 ° ° ° 74
CANADA 410 ° 81 932 13 536
GERMANY 3,587 2,219 1,463 128 355 7.752
JAPAN 156 3,546 10 ° 1 3,713
LUXEMBOURG ° ° 2.072 437. ° 2,509
MEXICO 84 115, ° ° 3 169
MONTSERRAT 63 40 40 ° 2 145
NETHERLANDS ANTILLES 60 40 ao 7 ° 4AT
PANAMA 2,606 ° ait 189 ° 3,106
SAUDI ARABIA ° ° ° 38 ° 38
SWITZERLAND 247 15 ° ° 5 267
‘UNITED KINGDOM 144 1,000 42,108 ° 394 43,613
URUGUAY 55B ° ° ° 23 581
VENEZUELA ° ° W ° ° "4
SUBTOTAL 4/ 7,549 7,049 136 1.134 796 62,661
US/BELGIUM 79 ° ° ° ° 79
US/CANADA 720 2,484 3.706 3 48 6,961
US/CAYMAN ISLANDS 120 ° 496 ° 20 636
US/FINLAND ° ° 698 ° ° 698
US/FRANCE 15 ° 6,659 34 50 6.755
US/GERMANY 373 ° 30 4 ag 456
US/ITALY 199 ° ° ° ° 199
US/JAPAN 20 868 180, 109 ° 868 181,865
US/MEXICO ° 100,000 ° ° ° 100,000
US/NETHERLANDS ANTILLES 680 ° ° 26 ° 706
US/PANAMA 80 ° 225 345 ° 650
US/SPAIN ° 14a ° ° ° 144
US/SWITZERLAND 142 ° 2 497 82 723
US/UNITED: KINGDOM 2,464 662 7,098 521 666 14,414
US/THIRD TIER ° 3,273 77 ° ° 3,350
SUBTOTAL. 2/ 4,892 107,434 199, 100 1,427 1,783 314,633

TOTAL ALL :
LAND DISPOSITIONS 12,444 114,480 245,236 2,558 2,579 377,294

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

43


TABLE 1--U.S. AGRICULTURAL LANDHOLDINGS OF FOREIGN OWNERS BY STATE, DECEMBER 31, 1991
|
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 28,620 409,759 1.4
ARIZONA 72,645 10,502 326,700 3.4
ARKANSAS 33,330 27,981 188,329 .7
CALIFORNIA 100,031 44,042 915,882 2.1
COLORADO 66,301 36,618 584,455 1.6
CONNECTICUT 3.118 1,884 1,074 NEG.
DELAWARE 1,237 972 5.870 6
FLORIDA 34.658 23,975 562,039 2.3
GEORGIA 37,156 32,338 573,040 1.8
HAWAIT 4,112 1,998 175,517 8.8
IDAHO 52,744 15,256 22,944 2
ILLINOIS 35,613 31,633 185,062 6
INDIANA 22,996 20,493 79,713 4
IOWA 35,818 33,582 32,012 af
KANSAS. 52,338 49,780 73,574 af
KENTUCKY 25,988 22,578 93,226 4
LOUISIANA 28,494 24,523 688,373 2.8
MAINE 19,837 18,065 2,828,483 15.7
MARYLAND 6,296 4,510 52,186 1.2
MASSACHUSETTS 5,008 2,664 1,934 al
MICHIGAN 36,451 25,742 203,588 8
MINNESOTA 50,911 36,343 220,775 6
MISSISSIPPI 30,229 26,713 502,458 1.9
MISSOURI 44,125 39,289 82,195 +2
MONTANA 93,048 53,052 555.651 1.0
NEBRASKA 49,052 45,444 76,251 .2
NEVADA 70,332 8,248 179,912 2.2
NEW HAMPSHIRE 5,756 4,251 220,199 5.2
NEW JERSEY 4,779 2,438 19,343 .8
NEW MEXICO 77,654 35,705 926.014 2.6
NEW YORK 30,321 21,893 263,895 1.2
NORTH CAROLINA 31,260 26,392 229,659 9
NORTH DAKOTA 44,352 39,211 30,851 :
OHIO 26,243 22,519 174,717 8
OKLAHOMA 43,939 38,500 . al
OREGON 61,558 28,022 2.7
PENNSYLVANIA 28,728 21,518
PUERTO RICO NA NA NEG.
RHODE ISLAND ~ 675 357 9
SOUTH CAROLINA 19/330 15,851 1.2
SOUTH DAKOTA 48,609 39,556 a
TENNESSEE 26,339 21.873 8
TEXAS 167,691 154,417 +7
UTAH . 52,527 11,892 6
VERMONT 5,935 5,153 2.3
VIRGINIA 25,410 20,963 +6
WASHINGTON 42,567 22,530 1.7
WEST VIRGINIA 15,436 13,531 +8
WISCONSIN 34,833 26,729 a
WYOMING 62,073 24,459 170,896 .7
TOTAL 1,899,774 1,264,605 14,808,501 1.2

4/1980 LAND AREA FROM ceockapHy DIVISION, CINSUS BUREAU.

2/ PRIVATELY HELD LAND BASED ON A. DAUGHERTY, UNPUBLISHED DATA, ECON. RES. SERV.,
U.S. DEPT.AGR., 1987. ESTIMATE|OF TOTAL LAND LESS PUBLIC, INDIAN, TRANSPORTATION,
AND URBAN LANDS. INCLUDES FOREST LAND, PASTURELAND, CROPLAND, RANGE, AND
MISCELLANEOUS,

NEG.=NEGLIGIBLE

NA=NOP AVAILABLE

6