The North Dakota attorney general’s office recently inquired into a 2,100-acre farmland purchase by Red River Trust, an entity affiliated with Bill Gates.
The state hosts “corporate farming laws,” barring corporations and limited liability companies from owning and leasing farms and ranches.
With the Gates’s new $13.5 million farmland purchase, North Dakotans—including the attorney general—responded with concern the sale violates the state’s law.
Red River Trust received a letter from the North Dakota attorney general’s office last week, alerting the trustee of the North Dakota land law.
“Our office needs to confirm how your company uses this land and whether this use meets any of the statutory exceptions, such as the business purpose exception,” wrote Drew Wrigley, North Dakota attorney general.
While the Red River Trust’s written reply is unknown, the North Dakota attorney general has okayed the purchase.
According to Jim Wiesemeyer, ProFarmer policy analyst, the state attorney general’s office offered its stamp of approval as the sale complies with state law against corporate farming.
More on farmland:
Who Can Afford These Soaring Farmland Prices?
Buying or Selling Land? 4 Farmland Data Trends You Need to Know
Up, Up, Up: 3-Year Farmland Price Trends from 18 States
