Re: How about free?

Posted by Indydirtfarmer on August 15, 2003 at 04:29:37 from (152.163.252.71):

In Reply to: How about free? posted by Indydirtfarmer on August 14, 2003 at 04:42:55:

Well, it's a done deal. I now have the 40 acres untill (at the very least) the end of 2005.
In our part of the country, 40 acres is a "good sized field". We live in the extreme southern part of Indiana, and farm land in Kentucky also. My largest field is about 120 acres. The smallest is less than 5 acres. The 40 acres in question is extremely fertile land. I have been eying it for years. Right now, in my "grand scheme" the hay business is paying the bills. That is why the decision to plant a hay field.
Last night, we met, and finalized the deal. After the lawyers left, my wife and I set down and had a long talk with the woman that owns the land. Her father bought the land in 1921. He was in the milk proccessing business. He decided to buy a farm, in an area that no one wanted. Now the land is in the middle of one of the fastest growing area's in the state. What was once worthless, is now worth millions. Her "children", (ages 68, down to the youngest, 59) didn't want to have ANYTHING to do with the farm or the dairy business. They were up and gone, as soon as they could get out. Now that the land is "valuable", they act like they never wanted to go away.
Her greatest wish, is for the land to be farmed forever. That is a bit far fetched. BUT... She wants to put the ground in a "trust" that would allow me to continue farming it for another 10 or 15 years, even if she dies today. Then when I decide to scale back my operation, she want's it donated to Purdue University. (Both hers and my Alma Mater) Oh the kids are going to SCREAM.
I was reminded of the last convesation that I had with my father before he passed away. He wanted me to keep farming his land untill the day I passed it on to my son. If I chose not to, let someone else farm it, but don't let it turn into a subdivision. My wifes father told us the same thing before he died. It comes down to the fact that they don't want to see their lifes work turned into a parking lot.
We are going to be involved with her setting up the "trust", and try to make her, and her fathers wishes come true. (And maybe make a buck or two along the way.)

Follow Ups:

• Re: Re: How about free? Robert 12:35:42 08/15/03 (0)
• Re: Re: How about free? Will 05:24:40 08/15/03 (0)

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