My sons picked up four farms this spring because of the current renter not being able to pay the high rents. I do not know if any of the land lords are going after the orginal tenant for any rent shortages. In all four cases the rents are a lot lower than the prior rent they where getting. The rent is back to what it was 4-5 years ago om these farms.
As far as landlords sueing the old teneats. Unless the landlord filed a UCC1 on the old tenent the landlord is pretty much out in the cold. They have to go for breach of contract and win. Then get a judgement for the breach of contract damages. Then they are still an unsecured creditor behind the banks. So the odds are that there would be few assests for the landlord to attach/collect.
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Today's Featured Article - History of the Nuffield Tractor: Conclusion - by Anthony West. In the last piece I mentioned that Nuffield had reached the stage where they had chosen to drop the "Universal" from production. The two new models were given three figure numbers, instead of "three" and "four". Model numbers were introduced to help farmers and dealers instantly recognize the engine size and horsepower of the tractor, the 4/60 had a four cylinder diesel engine which developed 60 bhp at 2,000 rpm. The 3/42 had a 3 cylinder diesel engine which produced 42 bhp at 2,000 rpm. Th
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