Farm Inheritance Simplified

Land

Image by Shutterstock.com

The new year brought several legislative changes in domestic agriculture, with one of the most anticipated amendments to the farm transfer law designed to facilitate generational change, writes business daily Világgazdaság.

Farm owners can now transfer the farm as a unit, so all elements related to the farm (land, other real estate and movable assets, property rights, as well as company shares) can be transferred simultaneously to the new owner.

Transferring contracts and tenders, subsidies, and credit rights also become much more straightforward.

In 2021, arable land changed hands at a specific price of HUF 1.81 mln per hectare, while forests and wooded areas, as well as lawns, meadows, and pastures, were sold at an average price of HUF 1.16 and 1.12 mln; however, there are still significant differences in prices per region.

Orchards and vineyards cost the most, HUF 2.02 million and HUF 1.89 mln, respectively, per hectare.

 

ADVERTISEMENT

Third of Czechs Only Have a Minimum Financial Reserve, Surve... Analysis

Third of Czechs Only Have a Minimum Financial Reserve, Surve...

IMF Urges Hungarian Authorities to Carry out Structural Refo... Government

IMF Urges Hungarian Authorities to Carry out Structural Refo...

New CEO at the Helm of Kifli.hu Appointments

New CEO at the Helm of Kifli.hu

120,000 Guest Nights Expected From World Athletics Champions... Tourism

120,000 Guest Nights Expected From World Athletics Champions...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.