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What to Do with a Gift of Farmland: Part One

Author

Listed:
  • Hauger, Michael H.
  • Burton, Robert O.

Abstract

Many people are given farmland and this phenomenon will continue. People who receive the gift of farmland may want to retain ownership for a variety of reasons: the land is already paid for; it may increase in value; it may have been in the family for a long time; or it may allow participation in production agriculture. Lack of land ownership costs may reduce the risk of land ownership. The purpose of this manuscript is to determine whether a person who has been given farmland can afford to retain ownership. A twelveyear analysis was used to determine the net income and risk associated with three strategies for retaining ownership.

Suggested Citation

  • Hauger, Michael H. & Burton, Robert O., 2015. "What to Do with a Gift of Farmland: Part One," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2015.
    • Handle: RePEc:ags:jasfmr:235186
    DOI: 10.22004/ag.econ.235186
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    File URL: https://ageconsearch.umn.edu/record/235186/files/422_Hauger_Partone1.pdf
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    References listed on IDEAS

    as
    1. Schnitkey, Gary, 2014. "Cash Rents in 2014 and Expected Cash Rents in 2015," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 4, pages 1-4, September.
    2. Paulson, Nicholar, 2012. "Revisiting Flexible Cash Leases," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2012, pages 1-13.
    3. Krapf, Brandy & Raab, Dwight & Zwilling, Bradley, 2014. "Bigger Is Better?," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 4, July.
    4. Gueck, Nicole & Klose, Steven L. & Jones, DeDe & Yates, Jay, 2010. "Examining Share Lease Arrangements for Grain Operations in the Texas Panhandle Under Changing Market Conditions," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2010, pages 1-15.
    5. Oecd, 2014. "Access Network Speed Tests," OECD Digital Economy Papers 237, OECD Publishing.
    6. Schnitkey, Gary, 2014. "Renegotiating Cash Rents Down for 2015," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 4, July.
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    Cited by:

    1. Styan, Jacob & Boerngen, Maria A. & Barrowclough, Michael J., 2021. "Factors Influencing Increased Usage of Cash Rent Leases in Illinois," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2021.

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