Money from agistment

3 posts
Mon, 06/27/2016 - 11:55 #1

Member for

8 years 5 months
jorja
Last seen: 03/08/2018 - 21:05
Joined: 06/27/2016 - 11:48

Money from agistment

Hello, i have just purchased 133 acres and the previous owners have asked for 90 days to relocate, to which we have agreed.The old owners have about 20 cattle for agistment from a neighbouring property. Are we now entitled to the agistment money if the cattle are staying as it is now our property, thankyou jorja

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Tue, 06/28/2016 - 19:28 #2
Kaz
Last seen: 07/06/2023 - 21:03
Joined: 04/05/2015 - 09:51
Just check that it is a paid agistment and not a handshake agistment. Most agistment agreements are handshake only. It will only be your cash if the agreement is with you, otherwise the old owners will continue to pocket any funds. You should always ask for "Vacant Posession" when purchasing land/property clear of any agreements, this includes old owner relocating otherwise if they decide to stay longer than 90 days, it becomes a civil matter and can get messy. Best to take vacant possession so if the conditions aren't met, then you don't pay the balance at settlement until contracted conditions are final. The agistment I agreement I have on my land is handshake only. In exchange the farmer maintains my fences and gives me a whole lamb when I need one which is about 2 or 3 a year. Congratulations on your purchase! Cheers Kaz
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Thu, 06/30/2016 - 16:24 #3
Terry
Last seen: 02/29/2024 - 14:20
Joined: 09/13/2013 - 18:57

I agree with Kaz on this. When I bought my property it was being agisted to someone not too far away. It was a reasonably quick settlement and not wanting to be unreasoanable I agreed that the cattle could be there for up to three months. It took me 9 to get them off with some pressure at the end.  There is always a reason they agist in the first place. I did get paid for it though.

 

I should have inssisted on vacant possession and then if it becomes an issue it is with the previous owner to sort out and not you and the neighbour who you would probably want to get along with.  It is reasonable to get vacant possession.

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