JOINT VENTURES AND LAND OCCUPATION
– A rapidly evolving world
Traditionally, the occupation of land would have fallen into three broad categories; owner-occupied, subject to tenancy or under some form of informal licence. However, as the farming industry has evolved so have the variety of land occupation or joint business ventures that are being put in place.
Often, a tenancy or grazing licence is too simplistic and will not satisfy both parties objectives. These can include matters such as tax and retirement planning, income protection, succession, new entrants, diversification or farm business development.
Each arrangement is bespoke and requires a degree of fine tuning to make sure they suit each particular case. They can cover a variety of different scenarios such as:
Þ Contract farming agreements
Þ Multi year crop purchase contracts
Þ Contract cattle rearing or stock management
Þ Share farming and joint ventures
Whatever your objectives, there are a variety of new and innovative ways of working with other businesses which are going to become more prevalent in the changing agricultural industry.