|
| There is a farm in the neighborhood that is in financial trouble (foreclosure)and they are going to do a sheriff auction in a couple weeks. The owner came to me and wants to rent the farm to me for the next 10 years, $50/acre/year, paid in full when the lease is recorded at the county courthouse. This would all be done before the sheriff sale.
It sounds like a good opportunity for me to get some cheap ground, but I hate to pay him and then somehow not be able to farm it for the next ten years. What am I missing here? He has already leased the oil/gas rights for the next ten years and collected the bonus money from that (lease was also recorded at the courthouse). If the lease if "of record", then everything should be good, right? If I don't grab this opportunity, someone else will..... | |
|
Leasing a farm that is in foreclosure??
