Contribution Scenarios

We’ve planned ahead to consider some of individual circumstances you may find yourself in as you consider contributing your farm to the Legacy Farmland Fund. If you don’t see your example below, please don’t hesitate to reach out to us to discuss your unique situation. 

Property is owned by a corporation that is owned by multiple shareholders, but only some of them want to exchange their property.

Property is owned by a C-Corporation and all shareholders want to exchange their property without recognizing a taxable gain.

Property is owned by an LLC taxed as a partnership or partnership that is owned by multiple parties, but only some of them want to exchange their property.

Property is owned by an LLC or Partnership and all members or partners want to exchange their property without recognizing a taxable gain.

Property is owned by a husband and wife, or their revocable grantor; all titleholders wish to exchange the property without recognizing a taxable gain.

Husband and Wife own farmland in a revocable AB/bypass/family trust.  The husband dies and wife wishes to contribute the land to the fund.

Property is owned by individuals as tenants in common and only a portion of the titleholders want to contribute the property.

Property is owned by individuals as tenants in common.  There is a tract of land on the property that one of the owners wishes to retain.  

Tenants in common seek to each own his interest, lease & operate ground; and to contribute to the fund and be removed from day-to-day operations.

Property contributor would like to create a charitable remainder trust to hold their units and contribute to the Fund.

Property contributor would like to create an Intentionally Defective Grantor Trust to hold their units of the Fund.

Property contributor wants to donate his/her property to the church and receive an annuity for his/her life plus the life of the spouse on a second to die basis.