Finance Minister Katy Gallagher has given in-principle support for the Commonwealth to transfer sections of land it owns in the valley to the ACT government.

One of the long-time sticking points in putting the farmers on long-term leases has been the so-called "Majura split blocks", with some properties owned partly by the Commonwealth (for Defence use) and partly by the ACT.

The ACT government has been working with Defence for a transfer - i.e. sale - of the land after then-planning minister Mick Gentleman offered the farmers 25-year leases last September last year.

All off-market sales by the Commonwealth to other government entities require the approval of the Finance Minister.

For almost two decades, the farmers have been living with the stress of being removed from their properties with just 90 days' notice since the Labor ACT government in 2005 did not renew them.

Now, with the Commonwealth likely to transfer its land to the ACT, the farmers may have that promise to be put on long-term leases finally fulfilled.

"The Minister for Finance provided in-principle agreement under the Commonwealth Property Disposal Policy for the Department of Defence to dispose of the Majura Split Blocks to the ACT government on 3 March 2024," a spokesperson for Ms Gallagher said.

"Final approval is subject to the Department of Defence and the ACT government finalising negotiations and reaching agreement on the terms and conditions of sale.

"Once this has occurred, the Assistant Minister for Defence will write to Minister for Finance requesting final approval of the disposal and the revocation of the National Land status."

The process for revoking the National Land status involves the Finance Minister signing a notice, which will be published in the Commonwealth of Australia Gazette. Revocation takes place from the date of publication, at which point the land becomes Territory Land.

It will then be a matter for Defence and the ACT to negotiate terms of the sale.

Farmers have, however, not been able to get a clear answer about their future from new Planning Minister Chris Steel.

An advocate for the landholders, Sherry McArdle-English, said she and farmer Paul Keir met recently with Mr Steel, who told them they had to wait on the outcome of the Eastern Broadacre study.

The study seeks to create a "potential future employment, industrial and related uses corridor" from the Majura Valley to Hume as well as parts of Symonston and the Jerrabomberra Valley.

That study was completed 14 years ago, in 2010.

A strategic environmental assessment is under way to determine what areas can be developed and what areas need to be conserved.

In the meantime, farmers feel their livelihoods are threatened because they cannot develop their land or get bank loans without certainty of tenure.