What benefits are there to filing chapter 12 over chapter 13?
As long as the income requirements of chapter 12 can be met there are some unique provisions for family farmers not found in chapter 13. For example, the debtor may sell farmland, farm equipment or other farm assets free and clear of any lien and without creditor consent; however, the creditor’s interest in the proceeds from the sale is preserved. There are also special tax provisions for a chapter 12 filer that are not available under chapter 13.
