On Wednesday 20 May we were joined by solicitor, Harry Russell (Roythornes) to discuss common farm partnership pitfalls.

Overview: 

Many farm businesses operate through some form of partnership model, in most cases involving family members. These arrangements range from the very informal through to those which are comprehensively documented. Whatever the circumstances, all of these partnerships will be governed by the Partnership Act 1890. In the 135 years since that Act was put on the statute books, and probably for many years previously, partnerships have been a breeding ground for disputes at great expense to those involved. This webinar will help us think about what could go wrong and how measures can be put in place through a written agreement to anticipate those issues and provide ways to mitigate disputes. Partnerships in the context of agricultural tenancies have additional complications including whether the tenancy agreement itself allows the farm to be run as a partnership. The tenancy of any holding used for a partnership may either deliberately or inadvertently become an asset of the partnership and the partnership may find that it takes on liabilities under a tenancy for maintenance, repair and replacement of fixed equipment. TFA Recommended Solicitor, Harry Russell from Roythornes, guided us expertly through the minefield of partnerships and provided a step-by-step guide to assist in avoiding potential pitfalls.

Sponsored by Roythornes Solicitors, this free virtual event was recorded and is now available to watch back at your leisure via our YouTube Channel. It also includes a Q&A session with the attendees who joined us on the night.