[Video] Farming For Life, Part 4: Passing Your Farm to the Next Generation


| 10/31/2019 9:27:00 AM


As large numbers of America’s farmers near retirement, the need for new young farmers to take their place grows more urgent. But replacing retiring farm owners involves more than just finding a young person with the right skill set. It also takes money — a lot of it. So how do young farmers without much capital acquire property or take over farms?

In this video, working farmers and farm supporters discuss a variety of ways ownership transactions are taking place.

How Do Farm Buyers and Sellers Find Each Other?

It’s when the challenges we face are greatest that innovative thinking becomes most important. And that type of thinking is helping farm ownership transfers take place. One of the first challenges sellers and buyers face is finding each other. To facilitate that, a number of “land-link” websites serve as a resource to connect people. But sometimes the best strategy is to simply put buyers and sellers in the same room and let them get to know each other.

Organizations across the country are now working to do that. But making connections is just the beginning. Next comes a bigger challenge: making things work financially.

What Financial Strategies are Being Used?

Agricultural easements are growing in importance because they provide a financial benefit for a retiring farmer and help make farm acquisition more affordable for young farmers. Land trusts are another important component of the movement to keep farms in operation. As are investors who hold the mortgage on a property until a new farmer can afford to acquire it. And joint ventures that help groom young farmers to take over are becoming more common.



For more information on advancing your farming career, contact these organizations:





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