What to Do with a Gift of Farmland: Part One
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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.