Transferring Business Ownership

Charles M Brown, Don Hofstrand, and William Edwards ( October, 2016 )

Summary

Once the younger party has made a long-term commitment to farming, the parties should consider how to transfer control and ownership of farm assets. In many two-generation farming arrangements, the younger party begins by working for a fixed wage. Eventually, however, the younger party will want to become an operator, not just an employee. Achieving this requires that control and ownership of part or all of the farm assets are transferred to the younger party

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