All you can do is ask. (Hopefully in a respectful way, leaving death out of it!)
Ask them what their long term plans are for the farm.
Let them know that you're interested in it. If they're ever ready to downsize, you'd like to talk about buying them out.
I don't care how much work you do there, or what you do to help them out. You have to separate that.
What you've done is a good deed. NOT labor for delayed repayment. If it IS done with hopes of payment later - you need to discuss that right up front - not AFTER the fact!
Remember that to a grandparent - all are equal. They don't want to get into picking favorites and who's going to get what. And it's not fair to expect them to, even if there's a reason they should.
It's very likely their preferred method of passing on the farm is to sell it and distribute the procedes evenly - nice and simple.
The best you should hope for is to have first right of refusal on buying them out. And maybe even a reduced price since you're family - but in fairness to the rest of you family, it should be offered to all of them as well.
the absolute worst thing you can do is make them worry about it!!!! Don't ever let them think there's going to be hard feelings over the land THEY own.
It's one thing to hope for an inheritance, but entirely different to EXPECT one. If I ever had a grandkid (not that I have any) come asking me if I was going to leave my land to him, I think I'd donate it it to the nearest charity instead.
While they age, be sure to save enough money to be able to act on it. If they've got a lot of time ahead of them, that's great.
You can be ready for that day when a decision has to be made - be able to say "here, I've got the cash, I'll pay a fair price", or if it's after they pass away - have enough cash, minus what would have been your share, to buy everybody else out.
Again - unless you're there every day as a caretaker - FORGET about any kind of compensation unless you agreed to it up front. It's not fair to anybody.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
... [Read Article]
Latest Ad:
2022 John Deere 5045E, 4wd, front end loader and 3rd function with grapple. 120 hrs, 55k new, must sell
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
