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Family farmland sticks with kin, ISU survey shows

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A new survey published by the Iowa State University Extension finds that most of Iowa’s farmland doesn’t change ownership very often, Radio Iowa reports. The results of the 2017 survey report that 82 percent of landowners have paid off the property, stabilizing land values. About 22 percent of Iowa’s 30 million acres of farmland is under sole ownership; 28 percent is owned in joint tenancy — typically between spouses — and 8 percent is owned under a co-ownership structure, often among siblings, ISU economist Wendong Zhang said. Another 20 percent of farmland is owned by a trust, with beneficiaries typically being children or grandchildren of the land’s current owner. About 10 percent of Iowa’s farmland is held in family corporations.