Land and Real Estate Terms
What is a section of land? A section is a standard unit of land used in the U.S. Public Land Survey System. One section generally contains 640 acres and is typically one mile by one mile, although actual boundaries can…
Farmland Investment
Is farmland a good investment? Farmland can be an attractive long-term investment because it can generate income through rent or agricultural production while potentially appreciating over time. However, returns vary by location, property type, purchase price, operating expenses, and market…
Taxes and Estate Planning
What taxes are due when selling farmland? Selling farmland may result in capital gains tax and, depending on the situation, depreciation recapture or other tax consequences. The amount owed depends on factors such as the property’s adjusted basis, purchase price,…
CRP and Conservation
What is CRP? CRP stands for Conservation Reserve Program. It is a USDA program that provides payments to eligible landowners and producers who voluntarily remove environmentally sensitive agricultural land from production and establish conservation practices. CRP acres can provide benefits…
Recreational Land and Hunting
What is recreational land? Recreational land is property that offers opportunities for activities such as hunting, fishing, camping, hiking, wildlife viewing, or other outdoor recreation. It may be entirely recreational or combined with agricultural uses such as cropland, pasture, or…