A panel of valuers is being established to calculate the compensation due to retiring tenant farmers.
Tenant Farming Commissioner (TFC), Bob McIntosh, said the panel was being formed in accordance with new relinquishment and assignation legislation arising from the Land Reform (Scotland) Act 2016.
The legislation will allow tenants, on secure 1991 Act tenancies, wishing to retire to relinquish their tenancy to their landlord for compensation, or if the landlord does not want to buy them out they can sell the tenancy to a new entrant or a person progressing in farming for the tenancy’s market value.
Mr McIntosh said tenants and landlords will be invited to nominate their preferred valuer, and the norm will be for the TFC to appoint the valuer.
However if the tenant does not suggest a preferred valuer, the TFC will appoint a valuer from the panel to do the valuation.
Mr McIntosh said: “I am inviting suitably experienced valuers to apply to sit on this new panel. Applications will close on January 29 2021, and all of the relevant information can be found on the Scottish Land Commission’s website.
“I shall also be issuing new guidance for those who are considering relinquishing their tenancy under this new legislation.”