Drama over the "family farm"- input, experience, advice appreciated.

[CityGirlintheCountry]

And get everything in writing. If it isn't written down it doesn't exist.

Good luck.

 

[screager312]

My dad lives on 500 acres in North Texas. He has it in his will me and my brother inherit the land, he has it specific as to who gets what. My stepmom gets the house and land around it. If either one of us want to sell the other brother must buy it at the price per acre my dad originally paid which is $250 per acre. He worries about his land all the time.

I know this doesn't help you. Hope you can work something out.

 

[Beekissed]

If your Papa is released to a nursing home after his hospital stay, ownership of the farm may become a moot point. It may vary from state to state but around here no property can be transferred 5 years prior to admitting to a nursing home for a permanent stay. If he has to live in a nursing facility, that facility can place a lien on the property for the bill unless he has the money or some really great insurance to pay for the facility charges. If he just has Medicare as his primary insurance, then they will eventually place a lien unless your grandma continues to live there and it is her only residence.

If your aunts do gain control of the property and push for a sale, maybe they will take a trade on your house in town and some money to boot. Easier to sell residential property than it is rural right now due to the expense and taxes that comes with large tracts of land. Unless, of course, one is a developer and wishes to break the land into pieces and sell it that way.

 

[I have WHAT in my yard?]

DH's mother was raised on a 110 acre farm. When grandmother was older she wanted to move to something easier to handle. DHs mother wanted to keep the farm in the family. She arranged for some one to lease the farm and farm it. She and grandmother decided together that it was worth it to see if any of the grandkids could afford it.

But the other two kids wanted the cash.

They badgered the old lady into signing a release of trust without DHs mother being there to object.

The land now has 95 houses on it and they tore down the house grandpa had built himself by hand. DHs mother cried for months.

 

[Talihofarms]

An irrevocable Trust would assure your grandparents true wishes,and eliminate a majority of the squabling.
Having said that it may not be to late to have them ammend their will depending on their soundness. It may not be cheap but you need to talk to an estate attorney and hope that your grand parents are able to convey their wishes. I was lucky in the fact that we knew what my father wanted before he passed and had an irrevocable Trust. Either way the last thing you want to do is assume anything.






Just my.02

Best of Luck

 

[michickenwrangler]

Quote:
x2

 

[herfrds]

First if at all possible get Papa to write down what he wants done with the land. Get it witnessed and notorized.
Second offer to purchase the property from your grandfather. Explain to him what the daughters want to do with it.
If he won't sell then get a lease going instead.


I just saw a place and everything on it sold because the owner was put in a nursing home and his wife is a real piece of work. It is a sad situation.
I cannot count on both hands the number of places that I have seen sold or lost because of relatives greed.

 

[mississippifarmboy]

Quote:
Rancher's giving you so good advice. I've been there. I was the grandchild that they raised on the farm and was the one that moved back here to take care of them after they got in bad health until they both passed. After pa passed on there was a good little war here on the hill. I have one aunt that still won't speak to me and an uncle that I had to take out behind the smokehouse and "Read from the good book" to him, but when the dust settled, I was broke, bruised, mad as heck.... and

living on the family farm that is 100% mine and paid for.

 

[booker81]

Too many people with land have family members that are all too ready for them to die to get something for free, cheap, or just to get cash.

My family has 400 acres. My grandparents bought it. My three uncles planned on inheriting it when my grandparents died. My mom ended up buying the land from my grandparents (her parents), before they died. Guess who was disowned....

Now, there are four of us kids, and for a little bit the same issue was cropping up, and almost always when my parents were not around. My BIL wanted to start building on the property because he is married to my oldest sister, and at that time "They were the most stable and should be able to start using their 25% of the property they would get when our parents died."

I about went ballistic, because *I* am the only one that is up there year round. Told my parents, they held a family meeting, and laid out the law - no buildings, no splitting, and the land will NOT be divided, let alone split and sold. If anything, it would be "sold" to whatever kid had the means and the time to care for it....which is now just me. The biggest bone of contention was that plans were being made with the assumption of my parents dying - and they were in their 50's at that point....

I'll start paying on a land contract to my parents in the next 5 years or so, right now I pay all the utilities, upkeep, and some of the taxes. They are selling to me at $500/acre, with the stipulation that it is not to be split and sold, and all family members are to always have a key and access to all of the land. Fine by me, they never go there anyway

As for the family members, money talks and you know what walks...the price is set, and anyone can purchase from my folks for the same price, but none of them want to (and dad is only "selling" in 40acre increments, though I'll start with 160acres).

Family meeting time, before the grandparents go. Doesn't need to involve lawyers at the start, but those are good, I've found those that talk the loudest about what they will do with their inheritance don't have much to say to the face of the folks they are waiting on to die...

 

[Judy]

Quote:
This would be ideal, but it doesn't sound like your grandparents are in any condition to do this, it would probably be contested if they tried, and the will will have to stand as is. What was said about the NH getting the property, or part of it, is true in GA and no doubt many or all other states.

I'm afraid I'd find some land as fast as I could, get some shelters up, and move the animals to it, while I still can. When the selling starts, the animals will go with it. Or maybe make some lease type arrangement with someone else.

I've seen a lot of this. What grandpa hoped would happen isn't going to matter a hoot in the end, only what's already on paper. And when there's money to be made, all those "nice" people suddenly change dramatically.

I once saw a lifelong family bond torn completely apart over $3000. The person who got the money was quite wealthy, and the person who had to come up with it had to get it from a friend.