What county were those sales in?
$500 rent on $15,000 land is 3.33% ROI less taxes etc, stock market been flat, and farmers love land. Land has appreciation in addition to rent. Not justifying but work with land buyers daily. Let me tell you there is A LOT of money in farmers hands from last three years profit.
Nebraska had another $25k sale and buyer was same person who held the record for a week or so last year.
I’d love a discussion on how to transfer land without facing huge inheritance taxes. LLC? Establish one on an existing holding? Guess I’m too cheap to hire an attorney, yet.
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Just went through a mess with the passing of my brother in law at 49. Made our decision to set up a revocable trust look smart.