Legal Question in Business Law in Georgia
Poultry Farm Ownership
My parents bought a poultry farm about two years ago. We didn't have US citizenship then, so my dad asked his younger sister to put the farm under her name. The loan for the farm and the property is under her name. But the contract with the Tyson Co. whom we grow chickens for is under my dad's name. So the income is under his name. The down payment came from my parents, and we are paying the mortgage and everything else. Basically, my aunt did not pay a penny toward the farm, not to mention she's only been on the farm once. She live in Orlando Florida, and the farm is in Georgia. Last year, my parents was immunized and are now US citizens. So we asked my aunt to sign the farm back over to our name. She refused... so now she is trying to take the farm for herself. She told my parents that they would have to pay her THREE HUNDRED THOUSAND dollars if they want her to sign the farm over to them.
Is there anything that we can do? We haven't even made or paid that much on the farm yet. The contract is under our name, so even if she take the farm, the bank would repo it because there would be no income to support the mortgage... what can we do legally?
3 Answers from Attorneys
Re: Poultry Farm Ownership
There is no easy way to say this; your parents are in a very precarious situation. If their name appears nowhere on the property or on the mortgage, then they would not have any legal rights in the property, unless they have been there for more than fifteen years, or there is some sort of written agreement governing their original arrangement with your aunt. I work in Muscogee County on a regular basis, and am familiar with Americus. Please contact me via email to discuss your parents' options at this stage.
Best Regards,
Re: Poultry Farm Ownership
There is no easy way to say this; your parents are in a very precarious situation. If their name appears nowhere on the property or on the mortgage, then they would not have any legal rights in the property, unless they have been there for more than fifteen years, or there is some sort of written agreement governing their original arrangement with your aunt. I work in Muscogee County on a regular basis, and am familiar with Americus. Please contact me via email to discuss your parents' options at this stage.
Best Regards,
Re: Poultry Farm Ownership
It appears that a trust may have been created, allowing your parents to exercise their rights. Consult with a local attorney.
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