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Re: Re: How about free?
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Posted by Will on August 15, 2003 at 05:24:40 from (160.136.109.11):
In Reply to: Re: How about free? posted by Indydirtfarmer on August 15, 2003 at 04:29:37:
Good luck, I wish we were blessed with more like you and the elderly lady you are dealing with. I believe the easiest way for her to accomplish her desire to protect the land would be to place an agriculture or conservation easement on it, she could limit the easement to a number of years or make it forever. She could also grant you, for an agreed upon rent or other consideration, a life or long term tenancy. In her will she could leave the land to Purdue. If the land were placed in a trust who would be the trustees? Is she talking about selling the development rights to one of the farmland preservation trusts? Or establishing her own trust? I hope it works out for her and you.
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