Purchase and sale agreements of farming and agricultural businesses must address a wide range of specific issues.
If you are buying a property with stock, who keeps the stock? What warranties are made in respect of stock that you are acquiring and whether or not they are fit and healthy? Are there environmental issues that need to be addressed? If you are buying a cropping property or a vineyard, are the properties compliant with regulations for the use of chemicals? Is there an offtake agreement in place that can be transferred to you as purchaser?
Understanding these issues and ensuring that they are adequately investigated and documented are key to ensuring the viability of your business. At McAuliffe Legal we have an in depth understanding of these issues and experience in how best to deal with them for the appropriate circumstances.
Unfortunately we are often called upon to assist our clients with resolving disputes where they have not been properly legally represented at the time of entering into these transactions. Many of these disputes could have been avoided by proper advice and preparation prior to entering into the transaction.
Our experience leads us to the firm opinion that these types of transactions should be left to experienced solicitors. Often clients attempt to save on the costs of these transactions by undertaking them themselves or with the assistance of unqualified persons and that experience inevitably leads us to conclude that this is a false economy potentially leading to substantial losses.
Clear advice and planning is required for all of these transactions, no matter how straight forward it otherwise appears to be.