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 - Field Modifications (Sins of the Farmer) - by Staff. Picture a new Chevrolet driving down the street without it's grill, right fender and trunk lid. Imagine a crude hole made in the hood to accommodate a new taller air cleaner, the fender wells cut away to make way for larger tires, and half of a sliding glass door used to replace the windshield. Top that off with an old set of '36 Ford headlight shells bolted to the hood. Pretty unlikely for a car... but for a tractor, this is pretty normal. It seems that more often than not they a
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