Quote:
Originally posted by xoxoxoBruce
A forced agreement whereas Linvilles will continue to farm until(I think) 7 years after the death of the oldest son. At that time it will be seized. If you have land zoned R1 (residential-single family homes) you should be compensated at fair market value for the same, regardless what they do with it. What they do with it is a whole other question as to the moral and legal propriety.
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Did they pay the 13k now? If they paid 13K for the land now, and agreed not to take it until at least 7 years in the future, then the value of the agreement is greater than 13k. Especially if title has been transferred and they no longer have to pay property taxes. Since property taxes are local I will bet this is the case. This will also mean no state inheritance taxes, or federal if they continue to have federal inheritance taxes.
It's not always a black and white issue. Some authorities can be creative in positive ways.
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