Tobacco Buyout Contract Transfers
The Overton / Pickett County Farm Service Agency (FSA) asks that family members of tobacco buyout contract holders who have died within the last year contact the office to initiate the steps involved in getting the contract transferred into the proper personâ€™s name for the next payment cycle in January 2012.
If a contract holder dies, the contract is transferred to the surviving spouse upon presentation of the death certificate, without regard to any will or other document.
If there is no surviving spouse, the contract must be transferred to the estate by any person allowed under State law to distribute the assets of the deceased. Evidence of such authority includes a copy of a court order identifying the person to act on behalf of the estate, or a settlement from the county attorney for the county in which the deceased person resided giving the person authority to act on behalf of the estate.
Current contract holders may transfer their contract any time to a family member. A family member means a parent; grandparent or great-grandparent; child, including legally adopted children, grandchild, or great-grandchild; spouse; or sibling of the tobacco quota holder or tobacco producer.
For more information about the Tobacco Transition Payment Program (TTPP) or any FSA program, contact Debbie Ferrell or Denesa Jolley at the County FSA office at 931-823-5506, Ext. 2, or visit the FSA website at www.fsa.usda.gov.