Robert Zogorskf is an auctioneer for Real-
Pro Commercial.
xft)RNING
AUCTION • S
• Personal Property
• Agricultural
CURVIN M. HORNING
Phone No.
717-351-0377
Auctioneer Answers
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not met during the auction, negotiations between the
highest bidders and the seller will occur after the
auction. In those cases, the auctioneer must also be a
licensed real estate broker to conduct the negotia
tions or to prepare real estate contracts.
I am retired and own a farm that I leased to my
neighbor for five years. There are three more years
left on the lease and my wife and I have decided
that we would like to sell the farm at auction. What
do we need to do to terminate the lease, or does it
automatically end when we sell the farm?
Unless the lease has a provision allowing you to
terminate it early, you are probably locked into the
remaining term of the lease three years. Selling
the farm will not terminate the lease. In that case, the
buyer would be purchasing the farm subject to the
lease. The interest you would be selling is called the
“leased fee estate” and the one your neighbor/tenant
holds is called the “leasehold estate.” If sold, the
buyer would be buying a leased fee interest in your
property and he or she would need to abide by the
terms of the lease.
Bringing More!
ERV I C E
• Real Estate
• Commercial
- AUCTIONEER
150 N. Shirk Road
New Holland, PA 17557
License No. 3956-L