Farms are often handed down through many generations, often without any legal documentation, with title to the farm land and buildings invariably being unregistered and frequently being difficult to fathom.
On a day-to-day basis, this might not present a problem but certain life events, such as death, divorce, retirement, bankruptcy or farm sale, or indeed where a legal dispute arises, may make it necessary to establish who owns what and on what basis, as Johanne Spittle, Director, Litigation & Dispute Resolution and agricultural specialist at Ware & Kay and Pearsons & Ward in Malton, York & Wetherby explains.
Farms can be owned in many ways, such as by a partnership, limited company or trust. It is advisable to have a written agreement in place for all these models, setting out how assets are owned, the process…