BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Real Property - Transactions

Date & Time
  • event Date

    Tuesday, September 27, 2022

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$347.00
CLE
ALL

This CLE course will discuss the critical legal issues in purchasing and selling a farm or other agribusiness. The program will focus on critical due diligence issues, threshold considerations for the parties, and essential terms and provisions in the purchase and sale agreement in any farming operation or agribusiness transaction.

Faculty

Marisa N. Bocci
Partner
K&L Gates, LLP

Ms. Bocci works on a range of transactional matters, including purchase and sale agreements, financing, and leasing. Her practice focuses on hotel and resort properties, commercial real estate assets, and agriculture/agribusiness matters. In the agriculture sector, Ms. Bocci has specific experience in matters relating to farmland real estate investments. She handles transactions across the country involving the purchase, sale, leasing and financing of farmland. Further, she is familiar with operational issues specific to the food packing and processing industry, including supply chain and labor arrangements. In addition, she also advises clients on agribusiness-related M&A transactions and regularly speaks and writes on agribusiness topics.

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Christopher Criglow
Partner
Stoel Rives LLP

Mr. Criglow focuses his practice on real estate and business transactions and counseling in the industries of real estate development and investment, agribusiness, and timberlands/forest products, including leasing, purchases, sales, financing and related general commercial contracts.

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Tyler L. Buswell
Shareholder
Kirton McConkie

Mr. Buswell is a member of the firm’s Real Estate section. His nationwide practice specializes in real estate transactions and land use planning, including all aspects of real estate acquisition, leasing and development. His typical clients include funds, institutional investors, developers, and corporations. Mr. Buswell has special expertise working in the self-storage, agricultural, healthcare, industrial, office, retail, condominium and hospitality sectors. He currently serves on the Board of Directors for the American Agricultural Law Association.

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Description

Purchasing an agribusiness--comprising commercial farming or ranching, processing, packing, manufacturing, and other livestock, dairy or agricultural-focused operations--is fraught with legal issues well beyond real estate matters to resolve during the due diligence period. Working knowledge of the concerns, standards, and customs for addressing those matters is critical to a successful transaction.

When representing buyers or sellers in an agribusiness transaction, attorneys must be prepared to address issues that cross multiple practice areas. Counsel must ensure that the purchase and sale agreement provides an optimal roadmap through the acquisition and disposition process that considers all stakeholders, meets the parties' reasonable expectations, and defines the buyer's due diligence work parameters.

Key provisions include the buyer's ability to obtain financing, terms of assumed financing, insurance availability, essential terms and conditions, the property and consideration that will change hands, and the buyer's due diligence inspection rights. The parties should clearly articulate the scope of the buyer's inspection activities, the timeline for the buyer to conduct inspection activities, and the post-inspection treatment of information discovered.

Other critical issues include deed restrictions, covenants, encroachments, easements and access, environmental contamination and compliance, water and mineral rights, utilities, leases or other contracts that run with the land, and other land-use concerns.

Listen as our authoritative panel discusses unique issues involved in purchasing or selling a farm or other agribusiness. The discussion will include threshold considerations, key terms and closing contingencies in the purchase and sale agreement, and best practices for full due diligence.

Outline

  1. Identifying threshold considerations
  2. Negotiating and drafting the purchase and sale agreement
  3. Key due diligence issues
    1. Real property
    2. Personal property
    3. IP
    4. Production history
    5. Contracts, permits, licenses
    6. Regulatory compliance
  4. Case studies

Benefits

The panel will review these and other key issues:

  • What considerations arise when the seller intends to retain certain operations?
  • What are best practices for conducting a physical inspection of the property?
  • How does one resolve issues with deed restrictions, covenants, easements, and encroachments?
  • What are the requirements for adequate environmental due diligence?
  • How can buyers confirm the protection of their water and mineral rights?
  • What are the critical land-use issues?
  • What key factors impact the functionality and profitability of the agribusiness?
  • Will the seller continue certain operations in a way that could compete with the buyer's business that the buyer may want to address by negotiating a noncompete agreement?
  • What are the most common financial issues that can arise during the diligence phase?
  • How will the parties exchange information during the negotiation and due diligence period?