I am pretty sure the capital gains on a land contract sale are recognized pro rata as you receive the payments. Lets say you sell for $100K and get $50K one year and $50K the next. Half the capital gains will be owed in year one the other half in year two. also for anyone reading this.....land contract from a buyers perspective are not a smart thing to do in most cases. that is because as ss55 points out the owner retains title. Lets say Butch you do execute a land contract and then a couple years later crash your car in to a school bus and get sued, the party that sues you may be awarded damages, and if you cant pay them and have to sell the farm to raise cash, the buyer on the land contract is out of luck for all the money he has paid you. I would be happy to sell my land on a land contract, but I would never buy land on a land contract.
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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
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