We acted for the owner of an estate in the completion of a settlement agreement with a farm tenant which involved the following:
- Serving notice on the farm tenant to terminate the existing lease under the Agricultural Holdings Act (AHA) and advising the client regarding procedure;
- Drafting and negotiating a settlement agreement, documenting the surrender of an AHA tenancy with compensation provisions. This included the transfer of freehold land to the farmer and to a new tenancy agreement;
- Preparing deeds of surrender in two phases;
- Preparing farm business tenancies and grazing licences;
- Preparing Transfer Deeds for the transfer of land to the farm tenant including the prior appointment of assets from a Trust to the client.
We had to work closely with my client’s managing agent and accountant to ensure tax issues had been dealt with and to complete the settlement agreement as quickly as possible.