Who Gets the Check: Determining When Federal Farm Program Payments Are Property of the Bankruptcy Estate

I. Introduction . . . . . 469 II. Characteristics of Federal Farm Programs . . . . . 471 A. Basic Attributes of Federal Farm Programs . . . . . 471 B. Distinguishing Characteristics of Different Types of Farm Programs . . . . . 474 III. Defining Property of the Estate . . . . . 477 IV. Legal or Equitable Interests as of Commencement of the Case . . . . . 479 A. Contractual Obligation . . . . . 480 B. Pre-Petition Statute as Creating "Legal or Equitable Interest" . . . . . 487 C. Post-Petition Statute: Circuit Courts Draw the Line . . . . . 490 V. Proceeds, Product . . . or Profits of or from Property of the Estate . . . . . 496 VI. Comments and Conclusions . . . . . 503