TRANSFER OF FAMILY FARM OWNERSHIP TO A THIRD PARTY

The transfer of farms to the next generation is deeply rooted in the mentality and actions of Austrian farmers. The majority of farms are usually transferred within families. This corresponds to the statutory succession which favours the closest relatives. Another, less known option is the transfer of the farm to a non-related successor (transferee), i.e., to an external or third person. As an alternative to closure, this form of farm transfer can help give prospects to farmers. In this way the “life’s work” of the current owners is sustained and can be seen as given continuity. On the other hand, it is also an opportunity for well-educated young farmers, newcomers or farmers with no parental farm holding, to use their qualifications. Third party farm transfers are still very marginal in Austria but are gaining in importance. As yet, however, there are no exact statistics. This paper aims to demonstrate the current situation in Austria and is based on the results of a study carried out for the Austrian rural youth (see Quendler et al. 2015). A representative survey of farmers at the age of retirement was conducted in order to estimate the proportion of farmers willing to transfer the ownership of their farm to a third party and to analyse and outline the motivating factors behind both these transfers and those within families.