Buying the Farm – Part I

Farmers can obtain rights to farmland in a variety of ways, for example, by entering into a lease with the owner of the farmland, sharing ownership of the land with others, or acquiring full ownership (“fee simple” title) of the farmland. Part I of this Guide focuses on:

(i) the different types of land ownership,

ii) the advantages and disadvantages of purchasing the farmland directly through fee simple ownership, and

(iii) considerations when locating the right farmland to purchase.

Buying the Farm – Part II

Once a deal has been negotiated, a farmer works with the land owner to buy farmland for the agreed-upon purchase price. Part II of this Guide focuses on

(i) the elements of a Purchase and Sale Agreement,

ii) the investigation “due diligence” process that every farmer should undertake,

(iii) the deed and other acquisition closing documents, and

(iv) the closing.