I agree. It could very easily become the ultimate bummer.
My sister and I each own an undivided half of our family farm. Right now, the tillable ground is leased out, and the farmhouse is rented, so we each have annual income from it. I live next to the farm, and my sister lives 75 miles away, so guess who gets all the responsibility for day to day operations.
NOW--looking into the future, in doing estate planning, our attorney has been after us to divide the farm, so my sister and I each own specific acres. Makes sense, except how do you divide a farm with a farmstead on one end, 30 acres of timber on the other, with a number of odd shaped fields in between?
Looking down the road to when my sister and I are both gone, if the farm weren't divided, that would leave our daughter and my sister's four kids owning the farm jointly. It would be a freaking nightmare.
Instead of dividing, I'm in favor of simply selling the farm, splitting the money with my sister, and moving on.
I apologize for injecting my personal situation into the discussion, but these farm deals can become complicated and partnerships can become nightmares that can go south in an instant.
You'd have an awful lot to determine, like who is responsible for what, etc. A friend of mine bought his out-of-state brother and sister out on the family farm that he operated, and he told me once it was the dumbest thing he ever did.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - A Towny Goes Plowing - by Anthony West (UK). I live in an area renowned for its rural beauty. Small fields with hedgerows and trees are common place, as are small hamlets with village greens and the odd duck pond complete with swans. The center of any village once the shop is closed is the old tavern. Rustic places with cheerful names like "The Griffin" "Red Lion" or "The Plough and Harrow" are found dotted around the country lanes all over the place. The warm glow of yellowish light can be seen for quite some distance at dusk, and
... [Read Article]
Latest Ad:
For sale Farmall super A tractor is complete and has just been setting for awhile,it was running when pulled out of the barn,shouldn’t take to much to get it going asking 1100.00
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
