OMAHA, Neb. (RFD News) — The farmland market is entering one of the largest generational transfers of land ownership in history, largely driven by aging farmers and shifting demographics.
Paul Schadegg with Farmers National Company joined us on Monday’s Market Day Report for a closer look at the trend.
In his conversation with RFD News, Schadegg said around 120 million acres of farmland could change hands over the next 10 to 15 years. He pointed to farmers averaging more than 60 years old and landowners more than 65, while heirs are increasingly removed from the farm.
Schadegg expects the transition to change who owns farmland, with more institutional ownership and some heirs choosing to keep family land without farming it themselves. Leasing could be an option for families that want to hold onto the property.
He said having a plan in place is important before land changes hands. Without one, families could face tax complications or disagreements over what happens to the farm.
