Buying & Selling Agricultural Land - In One Day

Introduction

This full day course is a must for all property lawyers who are exposed to buying and selling farms and agricultural property.

It will take delegates through the transactional process of buying a farm; from identifying the key assets through to drafting the contract. It will consider what questions to ask when taking initial instructions and will help delegates identify the key issues which affect farmers and landowners when investing in or disposing of property.

The course is ideal for those who are new to buying and selling agricultural property or simply wish to refresh and update their knowledge in light of the changing face of agricultural law.

What You Will Learn

This course will cover the following:

Part One - Initial Instructions

1. Identifying assets, appropriate owners and modes of transfer
2. Understanding and identifying your client
3. Occupation:
• Examining the different methods of agricultural occupation, from grazing licences, Farm Business Tenancies to occupation under the Agricultural Holdings Act 1986
4. Searches/Enquiries:
• The different types of searches and enquiries which are appropriate to agricultural land and farms

Part Two - Drafting the Contract

1. Basic Payment Entitlements:
• Understanding the basics of the scheme
• Selling and buying entitlements
• Traps for the unwary
2. Continued Management of the Holding:
• Looking at the different ways to manage and farm the holding between exchange and completion or harvest
3. Environmental Stewardship:
• Examine the current and new stewardship schemes
• Consider the impact of a sale on the scheme
• Tenant right and holdover
4. How to amend the contract to meet your client's needs

Part Three - Transfer and Completion

1. Price:
• Considering price apportionment and retentions
2. Third party notifications and reporting:
• Identifying third parties who need to be notified of a sale
• Understanding the Bank's requirements
• Who is doing what? Falling between two stools!
3. The client's ongoing needs:
• Farm management
• Business structures
• Family matters
• Wills and tax planning