Relinquishment and Assignation of Agricultural Tenancies
The relinquishment and assignation of agricultural tenancies became live on 28th February 2021 by the Land Reform Scotland Act 2016, with a new section (32A) being introduced.
The legislation was introduced to provide an alternative exit route for elderly tenants, who may be looking to retire, but do not have any successors (next generation, etc.) to pass the tenancy on to. The legislation also allows for a value to be put onto the tenancy, meaning the ingoing tenant would pay the outgoing tenant an agreed amount for their tenancy, aiding the exiting farmer for retirement.
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