7810s
Member
- Location
- South Coast
I have been farming with my parent's full time for 22yrs now. We looked into and had a basic draft agreement drawn up back in 2000 but nothing was ever finalised. I am currently running the farm and doing all the work etc We have been trading and are recognised with the Inland Revenue and RPA as running the business as a partnership. The accounts are worked out at a third share each.
We are tenant farmers running three seperate tenancies, of which 2 are in my fathers name and the third between me and him.
I just wondered if anyone knew if we needed a legal partnership agreement drawing up and what the benefit of one would be?
I have asked a solicitor and he thought it would be useful, but me being cynical didn't know if he just wanted the work as it was going to cost a bit!
Thanks
We are tenant farmers running three seperate tenancies, of which 2 are in my fathers name and the third between me and him.
I just wondered if anyone knew if we needed a legal partnership agreement drawing up and what the benefit of one would be?
I have asked a solicitor and he thought it would be useful, but me being cynical didn't know if he just wanted the work as it was going to cost a bit!
Thanks