Posted by redforlife on May 01, 2022 at 19:48:30 from (174.210.171.192):
In Reply to: Sell it or Keep it posted by JDB on May 01, 2022 at 16:29:42:
If I am reading into this right, you will be selling your current property, forfeiting 1/2 of the money it generates over any financing that may be incurred on it, and you'll be walking away with half of everything included in the marriage, IF your lucky. I think I would be re-asking myself, how likely am I going to be buying different property in 2 to 3 years. In my area, your not going to touch any farm ground at appraised value right now. And a guy would sure run into trouble getting financed for enough to get something bought. Meaning, farm ground will bring more money, than what the bank will loan you to buy it. Maybe this is not the situation where you are at, but it sure is here. And unlikely to change anytime soon.
A place just sold here last week for $14000 an acre. Probably appraised and only worth 8 ish. Kind of makes it hard for a guy that has to have some financing backing to buy it.
As for the tractor, that's a tough call. I can see why you are asking. If it were me, I'd probably keep it, if it wasn't going to be a financial burden. Meaning, if you could make better use of the money, if it wasn't tied up in the tractor. But, you can always sell it later, if selling it turns out to make more sense later on.
ALOT of things will likely make more sense, once the divorce is final. It's kind of hard to make sense out of anything, while you are grasping at straws going through a D.
6 months from now, your new girlfriend or wife, might not want to have ANYTHING to do with a farm or tractor neither one.
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