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| Do not cosign a loan.
If you go that route, just loan him the money.
How many acres he has of his own comes in to play also.
I would not want to go 12 years on a planter, especially if you are over 60.
Also a planter will be terribly obsolete in 12 years.
If he has 500 acres of his own, plus yours, for 600 total, $10 an acre increased yield would easily pay for the planter in 4 years.
Loan him the money at what ever interest you think is fair and pay him the going rate for planting.
2 separate transactions so if things change, it is not gong to jam any one up.
Don't do this unless you are willing to walk away from the money, | |
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Corn planter arrangement. Opinion if fair to both parties.
