Partnership Farming/land ownership - some questions before entering in

6 posts

Member for

2 years 10 months
Last seen: 03/08/2018 - 21:05
Joined: 02/10/2016 - 10:51

Partnership Farming/land ownership - some questions before entering in

G'Day all, I hope everyone is well.

A very close mate and I have both been looking for properties (approx 200-400 acres) in the Burnett / Darling Downs / East Maranoa regions of QLD.  

Both of our goals are to run a small cattle farm to supplement costs, and have a weekend getaway as a bonus.  

Since we have similar goals, we have decided to go in together and purchase a slightly larger property than each of us would have solo.  This will possibly allow for more cattle eventually, whilst sharing costs of transport/vet etc.

A relative already runs cattle on a nearby property and has given us advise already, and my mate's brother in-law owns a massive cattle property in NQ and has also offered valuable advise.  

My one concern is that nothing divides mates like finances.  And as such, i want to get all possible outcomes (within reason) on the table before we venture down this road.  

Issues like exit strategies in the event that one of us strikes financial hardship.  Dividing costs of upkeep - and solutions if one party is unable to contribute at the time.  

We will be getting legal advise of course, and an agreement will be written and signed by both, so in the event of a dispute we can refer back to it and try and avoid any conflict.

My question to the forum is --  What sort of situations should we be including in such an agreement??  Can anyone recommend some situation that should be addressed and outlined early on that relate specifically to rural property??

There are of course the obvious few situations.  But naturally, we cannot pre-agree upon situations that we could not foresee.  And with both of our limited experience, I'm sure there is quite alot the we can't foresee.

 

Thanks in advance.

Kaz
Last seen: 06/19/2018 - 13:57
Joined: 04/05/2015 - 09:51
Partnership Farming/land ownership - some questions before ente
Last seen: 12/17/2018 - 11:46
Joined: 05/31/2011 - 09:44
Partnership Farming/land ownership - some questions before ente
Last seen: 03/08/2018 - 21:05
Joined: 04/12/2017 - 21:48
How will the cash flow for
Last seen: 03/08/2018 - 21:05
Joined: 06/02/2016 - 11:49
An option: buying properties
Last seen: 08/15/2017 - 15:44
Joined: 11/07/2012 - 16:02
Why not set up a trust? With

New Forum Topics

Topic Replies Last post Forum
5352 Hi all, whats up.
bycharlie on Mon, 12/17/2018 - 11:47
1
by admin
Mon, 12/17/2018 - 11:49
Farming Help
5349 Tractors
byBlackmount73 on Wed, 12/12/2018 - 21:27
0
by Blackmount73
Wed, 12/12/2018 - 21:27
Machinery & products
4168 Biodegradable soap for septic systems?
bytzeggy14 on Fri, 10/12/2018 - 08:26
7
by admin
Thu, 12/06/2018 - 10:59
General Forum
5347 Tractor Attachment Brands
byreeeen4 on Tue, 12/04/2018 - 13:54
2
by reeeen4
Thu, 12/06/2018 - 10:58
Farming Help
3272 My farming story from the beginning
byStevecz77 on Wed, 11/08/2017 - 09:19
2
by reeeen4
Tue, 12/04/2018 - 13:48
Farming Help
3855 Does anyone know about solid-liquid separator?
bytom2017 on Sat, 09/22/2018 - 16:06
1
by mark2020
Mon, 11/26/2018 - 17:43
General Forum
5338 Animal Scat
byCoastalfarmer on Tue, 11/20/2018 - 13:31
2
by Coastalfarmer
Thu, 11/22/2018 - 10:23
General Forum
4170 Paddock Preparation
byGuy on Sun, 10/14/2018 - 20:18
4
by Guy
Tue, 11/20/2018 - 18:36
Farming Help
5337 Lonely pig
byneilster9 on Mon, 11/19/2018 - 06:37
0
by neilster9
Mon, 11/19/2018 - 06:37
Farming Help
3843 Paddock Restoration
byMickNShaz on Wed, 09/19/2018 - 14:38
2
by MickNShaz
Sun, 11/18/2018 - 12:37
Farming Help
5335 electric fence help
bysummit1966 on Mon, 11/12/2018 - 21:36
2
by summit1966
Wed, 11/14/2018 - 18:50
General Forum
5320 dorper sheep new business
byBaarambaa on Sun, 11/11/2018 - 12:50
2
by Baarambaa
Wed, 11/14/2018 - 15:02
New Members
5317 The New Kid on the Block...
byRobdog on Fri, 11/09/2018 - 21:28
1
by admin
Wed, 11/14/2018 - 12:12
New Members
3807 Where to start..
byTerry and Rach on Tue, 07/10/2018 - 14:51
2
by Robdog
Fri, 11/09/2018 - 21:22
New Members
4219 Goats
bybigdave06 on Sun, 11/04/2018 - 21:19
2
by bigdave06
Wed, 11/07/2018 - 19:48
General Forum
4213 Cattle preg testing via blood is easy and effective
byCattleBreeder on Wed, 10/24/2018 - 11:10
4
by CattleBreeder
Fri, 11/02/2018 - 08:48
General Forum
3275 Agistment Rates
bymrmrsmrb on Thu, 11/09/2017 - 17:14
5
by tzeggy14
Fri, 11/02/2018 - 05:43
General Forum
3148 Wiltipol Sheep and Boran Cattle
bychisel on Sun, 01/22/2017 - 19:07
5
by Saltaire
Sun, 10/28/2018 - 09:29
New Members
4162 Meat Rabbits
byDreamChasers on Thu, 10/11/2018 - 18:15
2
by DreamChasers
Fri, 10/12/2018 - 18:24
General Forum
3971 Devon Cross Grass Cattle Herd for Sale
bysherifer12emma on Wed, 10/03/2018 - 12:49
1
by admin
Fri, 10/12/2018 - 17:24
Other things

Our Sponsors

Our Partners