Your cousin is trying to stake a claim to the farm. Not that he wants the land, mind you, but he knows what the property is worth.
If you do nothing, I can pretty well guarantee what will happen. When your grandfather passes on, cousins will come out of the woodwork and even if your purchase agreement holds up, you will go through more aggravation that you can imagine.
This is a pretty clear case where you need professional assistance. Ask around for the name of a good lawyer who specializes in estate planning. You need to make sure you have an iron-clad arrangement with your grandfather. And don't put it off; even if Grandpa lives for many more years, your cousins could later claim that he was not competent to make decisions.
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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