13/10/2026
When parents transfer a farm to a child who will continue the business, the focus is often on keeping the farm operating.
But the parents' future security is just as important.
Before the transfer, the family should discuss:
• Where will the parents live?
• Will they receive money, income or ongoing support?
• Will they retain a right to occupy, lease or licence?
• Who will be responsible for rates, insurance, repairs and farm outgoings?
• What happens to existing loans and guarantees?
• What happens if the child dies, separates, becomes bankrupt or stops farming?
• How does the arrangement affect other children and the parents' wills?
Any promised right for the parents to remain in a farmhouse or receive support should be documented carefully.
A successful farm succession should give the next generation a workable future while ensuring the retiring generation has dignity, clarity and financial security.
If your family is discussing farm succession, contact Bliss Conveyancing on 1300 659 231 or visit https://blissconveyancing.com.au/family-property-transfer. For more information, read our blog at https://tinyurl.com/4barcwbs.
General information only. Every family transfer is different. Obtain advice about your circumstances before signing any document.