Posted by JD Seller on August 09, 2014 at 21:12:35 from (208.126.198.123):
In Reply to: Re: Bad news today!!! posted by DeltaRed on August 09, 2014 at 20:56:51:
He has the farm in a trust right now. He is not interested in selling it. He thinks his family will still keep it but I am sure the kids will sell it. They never really had any reason to bond with the farm as it is 150 miles away from them.
The current owner's Uncle farmed the farm when he was a kid. He can remember helping work on the farm. So it has "meaning" to him.
The farm is about 360 acres but only about 220 are tillable. Of the 140 left only maybe 100 of it is very good pasture. The rest is hollows and bluffs.
Even with all of that it would still bring in the mid 5K per acre range right now. What the sons don't see is how little they would actually get after all the taxes and a five way split.
They would get about $15K each ,after expenses, in annual income if they keep it. That would easily be more than a 5% return compared with what they would get after taxes.
The sisters MAY buy out the brothers. That is how the current owner got sole ownership.
This is a common problem around here anymore. There is a lot of land in older peoples hands. Their children rarely want to keep the land anymore. FAST bucks cloud their view.
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 - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[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.
