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tenancy in common

johnstown · 2011-01-23 16:11:13

Does anyone have any experience in ownership through tenancy-in-common? Is it a good or bad idea? It is practical from a farming perspective? Say a dairy farmer wishes to transfer his/her farm to two sons/daughters, allocating each distinct parcels of land. When it comes to the farm yard, sheds and milking parlour,…

23-01-2011 4:11pm

#1

johnstown

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Join Date: August 2008

Posts: 85

Does anyone have any experience in ownership through tenancy-in-common?

Is it a good or bad idea? It is practical from a farming perspective?

Say a dairy farmer wishes to transfer his/her farm to two sons/daughters, allocating each distinct parcels of land. When it comes to the farm yard, sheds and milking parlour, dividing these up would not be practicable. Would a tenancy in common be suitable, just for the farm yard?

I would assume it could obviously have an impact say where a party wished to obtain a loan and use the co-owned asset as security etc.... It possibly has tax implications also.

Thanks

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