The Iowa Attorney General’s Office announced earlier this week they have ended three companies’ attempts to purchase land from Iowans at well-below market rates. Beginning in late 2021, state officials started receiving complaints of landowners receiving unsolicited purchase agreements from CRT Acres, Land Acquisitions, and Westward Land Holdings trying to trick owners into selling land for a fraction of its value. Iowa Attorney General Tom Miller and his staff alleged these companies violated the Consumer Fraud Act and were participating in “unfair conduct.” The company owners deny any wrongdoing but have agreed to cease solicitations for agricultural land purchases in Iowa. Miller says, “Our agreements ensure these companies will not be taking rural Iowans’ family farms from them for pennies on the dollar. Additionally, this action sends a clear message to others who target older Iowans with deception and fraud: your type of business practices are not welcome here.” Fortunately, it does not appear any land purchases were completed. However, any existing purchase agreements will not be completed under the agreement.
