Posted by flying belgian on November 11, 2012 at 12:10:12 from (98.132.233.146):
In Reply to: O/T Fair market value. posted by flying belgian on November 11, 2012 at 09:04:07:
I think I have to add here that it is in her mothers will that brothers get it for the reduced price as per statute 2032A. No one has a problem with them getting it for the reduced price. It is the method used to arrive at that price that we are questioning. There is a formula used in the statute that uses the appraisal method or asking neighboring farmers what they have been paying their landlords for the last five years. That's where I have a problem. It is going to ruin my good reputation in the neighborhood that we have the nerve to ask such a personal question. If one of my neighbors would call me and ask such a question, I would tell them it is none of your business and hang up on them. If you can arrive at the numbers to plug in the formula by having it appraised, then I think that is a small price to pay to not em barres yourself.
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