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Land rent
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John McClain
Posted 5/22/2020 08:41 (#8273081 - in reply to #8272703)
Subject: RE: Land rent

Its in the terms of the auction somewhere that you have missed. Rent is expected to be paid one way or the other. Option 1 farms sells and seller retains rent, if you bought the farm you will still owe rent to the seller. Option 2 farms sell and rent goes to the buyer, if you buy the farms you still owe rent but it is to yourself so the point is moot, if a neighbor buys the farms you will owe rent to that neighbor in accordance with the terms of the lease.

Unless you've agreed to terminate your lease with the sellers and they have bought out your expenses, if any, you still owe rent to someone, the sellers, yourself or a different buyer. It sounds in this scenario you owe the sellers, which is the least common way of things occurring but they see the dollar signs.
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