red river valley se of fargo | Hello, I'm 40 and my parents are mid 70's. They've been retired for 10ish years and I've been farming since '99. I own 1 quarter with a small mortgage on it and my folks own 4 quarters. I proposed to them my buying the whole works contract for deed over the next 20 years. I won't get into specific $ amounts but my question is, we have a good idea of net $/acre they would like to get. I would benefit most from a low value/high Interest rate structure to the deal. On my parents end would they be taxed higher on interest income vs capital gains? This is all going to be run through accountants and lawyers of course I'm just wondering if anyone has any insight. Thanks. |
Buying land from my parents questions.
