Parents who have gifted property to their children are being warned they could be landing their...
Agricultural occupancies, whether commercial (FBT’s or AHA’s), residential tenancies of farm cottages and those relating to farm workers and licences of property, are all subject to their own specific legislation depending on when they were created, the parties involved and the type of use of the property concerned.
This niche specialist area of law requires a detailed working knowledge of the various statutory provisions, deadlines and nuances that may apply in your particular case, which, for the unwary, can be a minefield.
We would strongly advise getting advice before you enter into an agreement, even if it’s with another family member. Such agreements require specific provisions in relation to rent and rent review, repairs, Basic Payment Scheme entitlements and much more. Problems can arise, such as inadvertently creating security of tenure for farm workers and on agricultural land let for non-agricultural use if the correct prior notices are not served. Also, valuable opportunities to get land back in hand may be missed if the correct procedures are not followed or the very strict deadlines are missed.
Our experienced, specialist team can provide you with bespoke advice tailored specifically to your needs and the nature of your letting on all aspects of agricultural tenancies whether that be creating a tenancy, dealing with matters arising during the tenancy or termination of a tenancy and the compensation and/or the tax consequences that may arise as a result.