Farming land

In the early 1980s a client farming family let their entire farm under an agricultural tenancy to their farming partnership. The family members consisted of a brother and sister the brother's wife and the brother's son and the land was owned as follows: 40% each by the brother and sister and 10% each by the wife and son. Profits from the farming partnership were split equally.

A few years later the sister's son joined the partnership and profits were reallocated again to equal 20% shares.

The brother sister and wife now wish to cease their involvement in the partnership (if possible) and pass the land on to the sons. Since the original tenancy was put in place several farm buildings have become surplus. Some have been let as commercial premises one is used as a farm shop and two cottages are let to individuals...