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| First, it sounds like you have an oral contract for the 2012 rent and you cannot be "bought" out without acceptance of the compensation by you. So unless you agree, you are the tennant for 2012.
Second, if you can swing it and you would like the land then it sounds to me like you are going to make a fair offer to purchase. I would make the offer first to the bank trust officer and then immediately phone all of the heirs to inform them that you have extended an offer to the bank trust officer and tell them what the offer is. I would tell all of them why I think my offer is reasonable and that you hope it will be accepted. If it is not accepted then it probably goes to auction where again you can decide what it is worth to you.
As difficult as it is, if you want to have a chance to purchase the land you are going to have to separate your emotions over the way you have been treated from the business decisions that need to be made. | |
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Farm auction
