Farm Transfers Which Become Effective While the Parent Is Still Alive

  • Jacob H. Beuscher

Abstract

Lawyers have a pat Latin phrase to describe transfers that take effect between living parties. They are called inter vivos transfers— “between the living.” In general inter vivos transfers of the family farm from parent to child can take one of several forms:
  1. 1.

    Purchase arrangements under which the son buys the farm for money, support or other services.

     
  2. 2.

    Lease arrangements under which the son becomes the present operator of the farm and relies on the law of inheritance, his parent’s will, or a contract to make a will to acquire a greater interest in the farm later.

     
  3. 3.

    Gifts by which the parent deeds to the son part or all of the farm, or a remainder interest to take effect when the parent dies.

     

Keywords

Income Expense Burial Hene 

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References

  1. 1.
    Eckhardt, Family Farm Operating and Transfer Agreements (Univ. of Wis. S. J. D. Thesis 1950) 44, 235.Google Scholar
  2. 2.
    Wehrwein, Bonds of Maintenance as Aids in Acquiring Farm Ownership, 8 Jour, of Land and P. U. Econ. 392, 398 (1932).Google Scholar
  3. 3.
    Parsons and Waples, Keeping the Farm in the Family, University of Wisconsin Ag. Exp. Bull. 157 (1945).Google Scholar
  4. 4.
    See for a summary of the American cases, Abbott v. Sanders 80 Vt. 179, 66 Atl. 1032 (1907).Google Scholar
  5. 5.
    4 Page on Wills (lifetime ed. 1941) section 1736.Google Scholar
  6. 6.
    See 4 Tiffany, Real Property (3rd ed. 1939) 226.Google Scholar
  7. 7.
    See chapter 8, footnote 2.Google Scholar
  8. 8.
    See chapter 6.Google Scholar

Copyright information

© Springer Science+Business Media New York 1953

Authors and Affiliations

  • Jacob H. Beuscher
    • 1
  1. 1.University of WisconsinUSA

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