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NW Missouri | Have to sell, lease for at least 5 years, or lease with an option to purchase to a beginning farmer. It has to be done before the contract expires - I believe the deadline to sign up is in August for contracts that expire in September. Can't be a family member. CRP contract holders get 2 extra years of payment.
I haven't used it myself, but know of some guys that did. Worked out good for most. One got stuck in a 5 year contract that turned out bad the last couple years. Nothing saying it can't be a flex rent or something, just says beginning farmer has to have a 5 year lease. If owner kicks them off before the lease is up, they pay the 2 years of extra payments back. If beginning farmer willingly gives it up, you're probably fine.
Pretty simple. Talk to your FSA office. | |
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Transition Incentives Program
