FARM BUSINESS NEWS
Minding Ag's Business
Marcia Zarley Taylor DTN Executive Editor
Thu Oct 24, 2013 10:39 AM CDT

A recent Iowa Supreme Court ruling reminds farmland heirs to play fair in love and business, as DTN's Elizabeth Williams reported in "Sometimes Minority Rules" last week.

Yes, your grandparents may have intended inherited land to stay in family hands for generations, if possible. Yes, it's difficult to dissolve farmland trapped inside a 1960s C Corporation. But CPAs, family business mediators and attorneys tell us that increasingly courts are taking a jaundiced view of business partners who fail to pay dividends or set reasonable buy-sell terms when family partners want to leave the business.

The case of Baur v. Baur ...

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