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South Central Iowa | Get an equity loan on the land if it is satisfied in full. You know the financial situation.
Rent should cover it!
I would think 540 acres would be Netting at least $120,000 per year in rent if it were $9,000 an acre land at some point.
Don't sell unless you have to, but put signs all over it and call some real estate people to see if they have buyers they can bring (don't have to list it). Then give it up to 12+ months to sell. Don't let her cut "that nice person" next door a deal on a 40 acre parcel! He's been kissing her ass just for that reason.
Also consider that small acreages are desirable in many areas. They often sell to a premium per acre against a larger farm. Just depends on where you are at. Talk with a real estate broker and/or a certified appraiser in your area if she wants to sell. Maybe some doctor wants a horsey farm and will pay you $15,000 an acre for the 40.
Edited by Conan the Farmer 1/26/2019 13:52
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Teach me about Capital Gains Tax and selling land to pay for nursing home
