Farm Inheritance Simplified

Land

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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.

 

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