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Looking for ideas on buying lanlords farm
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jakescia
Posted 1/6/2019 16:58 (#7225059 - in reply to #7225003)
Subject: No IRS rules of which I am aware.......but.........



Oskaloosa, Iowa 52577

No IRS rules of which I am aware.......but......…

from an economic view, if I were the seller, and I was tying up the land for a number of years, I would probably want a significant %,,,,,,,,say, maybe 10%?  5%?

from a legal perspective, if I wanted to make sure the beneficiaries could not overturn it for being frivolous, and maybe taking advantage of a "senile" individual, I would want to make it significant...…...again, maybe 10%?

This would be something for the attorney to rule on...…...and I would get it in the form of a letter, so his malpractice coverage would cover in the event a dogfight occurs.

 

 

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