How can I add more value to my farmland?
Top 50 Questions about Farmland Adding value to your farmland starts with improving its productivity, usability, and appeal. In Iowa—where farmland values are largely driven by production agriculture—strategic improvements can significantly increase what your property is worth. By focusing on efficiency and buyer expectations, you can make thoughtful upgrades that pay off. Strategies to Add […]
How do we dissolve an LLC?
Top 50 Questions about Farmland Dissolving a Limited Liability Company (LLC) is a multi-step process that ensures the business is closed legally and all financial and legal obligations are addressed. While consulting an attorney is recommended, here’s a general guide to help you understand the process. Key Steps to Dissolve an LLC Review the Operating […]
Selling a farm if it’s rented or leased?
Top 50 Questions about Farmland The short answer is yes, you absolutely can.But there are a few important things to understand about how leases work in Iowa. How Lease Termination Works in Iowa In Iowa, lease termination must occur by September 1st.If you did not serve lease termination, we can still sell your farm. The […]
Do we need an appraisal on the farm?
Top 50 Questions about Farmland Whether or not you need an appraisal depends on your specific situation, such as selling, settling an estate, or determining tax basis. While an auction often serves as a live, real-time appraisal, there are instances where a formal or certified appraisal is necessary. When Do You Need an Appraisal? For […]
Can you manage my farm?
Top 50 Questions about Farmland Yes, we can! At Whitaker Marketing Group, we offer professional farm management services to ensure your land is managed with care, expertise, and dedication to maintaining its productivity and your family’s legacy. Why Consider Farm Management? Farm management is ideal for those who: Have inherited farmland but lack agricultural experience. […]
Can I sell my interest in the farm?
Top 50 Questions about Farmland Yes, you can sell your interest in a farm, but the process depends on several factors, including how the ownership is structured and whether the farm can be physically or legally divided. Here’s what you need to know. Key Considerations Before Selling Your Interest 1. Ownership Structure Tenants in Common: […]
Do you need an Attorney?
Top 50 Questions about Farmland Yes, utilizing an attorney is highly recommended when selling farmland. At Whitaker Marketing Group, we work closely with attorneys to ensure smooth and efficient closings while addressing the unique complexities of farmland transactions. Why an Attorney is Important Addressing Legal Complexities: Encumbrances: Handling debts or liens on the property. Encroachments: […]
What are the time limits for 1031 tax exchange?
Top 50 Questions about Farmland A 1031 tax-deferred exchange lets you reinvest the proceeds from a property sale into another like-kind property while deferring capital gains taxes. To make the most of this strategy, you must follow the IRS timelines closely. When you understand these deadlines, you can plan ahead and keep your exchange on […]
What is a 156 form?
Top 50 Questions about Farmland The 156 Form is a vital document for farmland owners, often referred to as the “pedigree” of your farm. It provides detailed information about your farm’s characteristics, usage, and participation in government programs. What Information is on a 156 Form? Acreage Details: Total acres. Crop acres. Tillable acres as recognized […]
How and when do you serve lease termination?
Top 50 Questions about Farmland In Iowa, lease termination is a critical step when planning to sell farmland that has a tenant farmer. Here’s what you need to know about the process and timeline. When to Serve Lease Termination Termination Deadline: Notice to terminate a farm lease must be served by September 1 of the […]
