Typical Farmers Problem??? (Right Forum?)

[5636]

True story!!
The father gifted the farm to his 3 sons in the mid 60's & then later passed away
Family then agreed (late 60's)
No 1 son inhertied live & dead stock & continued the farming business & lived there with wife & children (still there today!)
No 2 son lived with his mother in a property nearby & as joint owner with mother (now passed away)
No 3 son inhertited a property near the farm
All three sons were happy eith arrangement
Mid 70's No 1 son bought out his share of farm (so farm now owned by son No 1 & 3)

So what is the problem
No 1 son has farmed over 40 years without paying rent to No3 son. No1 son has spend a lot of his own money on improvements
No1 son has offered to sell son No3 son his share of the farm (1/3rd) many times but has been refused or did not answer mail!

You can imagine that relationships are not good! - No 1 son claims that No 3 son is waiting for him to die!!!

What can No 1 son do to get action??
I think he should let the farm to his daughter and grand children? (they live local)
Any comments/advice will be welcome
Thanks

[pqtaxation]

True story!!
I think he should let the farm to his daughter and grand children? (they live local)
Any comments/advice will be welcome

Hi 5636
My initial response to your post, FWIW, is that it’s not primarily about a tax question but more of a family mediation issue so this is not a very appropriate forum.

Again FWIW, you don’t make clear whether No3 son has been working on the farm since father’s death in 1960’s and if not at what he has been working and why he could be interested in accepting No 1 son’s offer to sell. I suspect I may have misunderstood what you wrote and that it is No1 son is wishing to buy out No3 son’s interest rather than the reverse. The circumstances of each of the children of the three sons are probably relevant to this situation about what should happen to the working farm but is not mentioned by you.