When Co-Owners (Siblings) Cannot Decide on Inherited Farmland
When Co-Owners (Siblings) Cannot Decide on Inherited Farmland You would think this situation never happens, but it happens all the time. Mom and Dad pass away and leave a really nice 240-acre farm to five siblings. They leave it undivided, which basically means they are telling the next generation, “You kids figure it out.” In many cases, Mom and Dad did not have the courage, or maybe the heart, to make those decisions while they were still alive. So now the kids are left to work through it. And I can tell you, these situations can get extremely tense. Many times, it pits one sibling against another. One wants to keep the farm. One wants to sell. One may want to farm it. Another may live out of state and just wants their share. Everybody has a different goal, and everybody has an emotional attachment of some kind. So that brings us to the question: What Do You Do? The first thing you have to do is get an accurate appraisal of the property. You n...