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Emily Regimbeau, of Agricultural and Rural Affairs at mfg Solicitors, responds: “The federal government hasn’t but launched their technical session so it’s not completely clear how the proposed new guidelines will function. This implies it could be unwise to make any selections till extra element is obtainable.
“There are, nevertheless, some actions you possibly can take to organize and get your paperwork so as. This consists of being clear on whose identify the land is in, checking whether or not there are any mortgages, registering any unregistered land and checking to ensure any unwritten land occupancy or partnership agreements are formalised. It’s also necessary to have conversations with your loved ones about succession planning.
“Doing this pre-work, which must be undertaken carefully along with your skilled advisors, gives you a head begin and a transparent image.
“It signifies that when you do select to present or promote land, and even remortgage, it is possible for you to to maneuver rapidly as there is not going to be any hidden surprises which may probably sluggish a transaction down.”
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