SEON | t rock - 10/18/2018 22:35
Never planned on selling to my son was hoping to gift it all, that being said with interest moving up and the fact that I have no patience left for line of credit banking I would rather sell one of our farms to him at a discounted price and lend the money back to my son and my business at no interest, the business would make the payments so it would come out of any of our profits evenly. Seems like this would also transition some land over fairly easily. Haven't talked to my CPA yet but question for you is would FCS lend on father to son sale on there young farmer program ?
There might be marital factors to consider. Check your local laws, but "HERE" family law sates that property that is gifted or inherited in not included in a divorce settlement. If he is married currently and he buys it from you, he might have to buy it again from his future ex-wife.
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Transitioning farm ground
