Case Summary:
For purposes of resolving a priority dispute, State of Wisconsin, Department of Agriculture, Trade & Consumer Protection's recording of a farm preservation agreement on October 13, 1985, did not create a lien as of that date against the debtor's property.  Interpreting the mere recording of such an agreement to have this effect would render other portions of the statutory scheme superfluous.  Wisconsin statutes provide a process through which a lien can be filed against property on the basis of a farm preservation agreement.  That process was not involved here.  Given the current contingent nature of any ultimate lien, court finds it would be manifestly unfair to State Bank of Arthur (a competing creditor) to prematurely fix the value of the state's contingent lien and thereby "cram down" the amount of the bank's secured claim.

Statue/Rule References:
11 U.S.C. § 362(h) -- Damages For Willful Stay Violations
11 U.S.C. § 506(a) -- Valuation
11 U.S.C. § 522(c) -- Exemptions - As Against Federal Tax Liens
11 U.S.C. § 553 -- Setoff
Wis. Stat. § 91 -- Farm Preservation Agreements

Key Terms:
Agricultural Programs
Automatic Stay
Exemptions
Farm Preservation Agreement
Priority
Setoff