Case Study: Bridging States and Generations

Navigating Complex Family Ownership and Tax Timing Across State Lines

Our client approached us regarding an ag land purchase from a family member who now lived out of state, was divorced, but still shared ownership in the land with their former spouse.  One seller needed the sale proceeds immediately for another purchase; one wanted to receive proceeds the following year to diminish the tax consequences of the sale. 

Our office worked with both sellers, the buyer, and the buyer’s lender, to prepare title work, utilize a contract for deed to allow a delayed receipt of proceeds to one seller, obtain certified copies of the required divorce documents from out of state to clear title, and facilitate the signing and delivery of documents from the seller to our office from out of state.