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A deed creating a tenancy-in-common can be used to pass a portion of the farm to a member of the second generation, without passing ownership of the entire farm to the same individual. Thus a parent could, if so desired, transfer a fractional share of the farm to a child. This arrangement is sometimes used in gift/purchase agreements. In the beginning the parent might transfer a small interest. As the child grows older and becomes more financially able, he may purchase a larger share.
The portion remaining in the parent’s name at death could be divided among immediate members of the family, or left to the child who already owned part of the farm. The parent could include in the will a provision permitting the child owning part of the farm to buyout the other heirs if desired. Such a provision may allow the child to pay a reasonable amount each year over a fixed period of time.
Advantages
• The surviving owner does not take all, as in joint tenancy. The decedent’s interest passes to his legal heirs or ac- cording to his will.
• A small or large fractional share can be owned or conveyed without consent of co-tenants.
• Several persons can own land in unequal undivided shares.
Disadvantages
• A tenant-in-common may use a proceeding called partition to have the jointly owned property physically divided or sold so he can receive his share. This right may jeopardize long-range planning by co-owners.
• Common ownership and responsibility may demonstrate the old maxim, “Everybody’s business is nobody’s business,” thus discouraging proper attention and care to farm management and operation. Keeping account of labor and improvements invested in the farm by co-owners may prove to be inconvenient. Some co-owners may be unable to pay or may refuse to pay their share of farm maintenance and improvement costs.

The 56-day cycle was actually a bullish market cycle. I one thing, its second segment, or leg, B, carried above the level of the first leg, A. I another, the total length of the rising phase of the swing, seven weeks from m October to early December, occupied seven weeks of the 11-week cycle, clearly m than 50% of the total cyclical period. Neutral cycles generally involve rising a falling periods of equal length. Bearish cycles usually involve more of the cy being down than up in price movement.
However, by December 2, cyclical forces were beginning to line up on the be ish side. For one thing, the 56-day cycle had already been rising for seven wee for nearly two-thirds of its nominal cycle length. By December 9, Segment B v running out of time and moving into its second half, confirming in its own increasing weakness the building weakness of the entire 56-day cycle. The final 15-day period of Segment B could be divided into two smaller segments yet: eight days and seven days. Declines at the very end of December were supported by a confluence of declining short- and medium-term cycles. This confluence resulted in a fairly serious market correction during the final four weeks of the larger 56-day cycle.