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Considering the options

Throughout March, our Changing Landscape programme is highlighting the importance of retirement and succession planning and this week we are focusing on the options for tenant farmers.

 

Before a tenant can consider their opportunities for retirement and / or succession, they must determine their basis of occupation, as the options available can vary significantly depending on the type of tenancy agreement held.

The majority of tenanted agricultural holdings (where tenants benefit from exclusive occupation) are let on either:

Agricultural Holdings Act agreements (AHA’s) – pre 1st September 1995, or;

Farm Business Tenancies (FBT’s) – post 1st September 1995

AHA’s normally provide tenants with security of tenure for their lifetime and can often carry statutory succession rights.  FBT’s on the other hand generally provide limited security beyond the fixed term, resulting in the parties needing to negotiate future terms.

It is therefore key to understand the basis of your occupation and your rights.

Click here to read our guide, which highlights key questions and factors to consider based on the type of tenancy you hold.

In both scenarios, the questions highlighted in the guide are just a starting point and we would always advise having early conversations with a professional advisor to help you plan for the future.

Emma Smith - GCS Grays

Article by

Emma Smith
MRICS FAAV
Rural Associate Director

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