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Subject:  Re: Buying rental land... Date:  5/6/2011  8:46 PM
Author:  foo1bar Number:  113374 of 127753

Buying from your uncle is not prohibited from self-dealing,
Wouldn't be buying from my uncle - buying land from his neighbor.

Do you have sufficient assets in an IRA to pay cash for the land?
Let's assume that I do.

What happens if you uncle is no longer able to farm and ends the rental agreement?
Well, presumably I rent it to another farmer, or possibly sell it in whole or in parts. (probably depending on what is done with the adjacent parcels).
Farming it is another possible option - but probably would not be ideal. (everything would have to be done by custom operators coming in)
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