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kuna, Id | So I am almost embarrassed to admit that I was worried this could happen, and now it has. I rent a number of small irrigated farms in southwest Idaho and for the most part make sure I have my butt covered with written leases. However I have/had this one place that was foreclosed on and then the bank was shut down by the FDIC mid year. This happened three years ago. When I contacted the FDIC about the situation they didn't know what to do with me and directed me to a local land broker who was more or less designated as their local contact regarding the property. I explained to him who I was and that I was actively farming the parcel, he told me no worries, that the farm was tied up in some litigation (which I already knew of and understood) and that it would take some time to work out. He also said the farm looked great and to give him a call in the fall. I did call that fall and he told me I should farm it again the next year. I asked for a written lease and he told me that would be next to impossible as it was owned by the FDIC. Long story short, we got thru last year, once again called him last fall he gave me the green light for this year I did my fall work and applied my fall inputs. Yesterday I get a message from the proud new owner stating that he has purchased the property and that he would be taking over immediately. Do I have any recourse? I feel like without a lease I don't have a leg to stand on but at the same time feel like I got set up to be screwed. The broker left me hanging. Pretty sure it got sold to one of his buddies the second that it was free and clear. I operate a dairy and was expecting to feed my cattle with the feed off this farm........My question is can the new owner kick me off on the 11th of march in Idaho without any recourse? Comments?........
Edited by speedydutch17 3/12/2013 11:31
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Thinking I got burned on a farm lease.
