farm (n.) Look up farm at
c. 1300, "fixed payment (usually in exchange for taxes collected, etc.), fixed rent," from Old French ferme "a rent, lease" (13c.), from Medieval Latin firma "fixed payment," from Latin firmare "to fix, settle, confirm, strengthen," from firmus "strong; stable," figuratively "constant, trusty" (see firm (adj.)).

Sense of "tract of leased land" is first recorded early 14c.; that of "cultivated land" (leased or not) is 1520s. A word of confused history, but there is agreement that "the purely agricultural sense is comparatively modern" [Century Dictionary]. There is a set of Old English words that appear to be related in sound and sense; if these, too, are from Latin it would be a very early borrowing. Some books strenuously defend a theory that the Anglo-Saxon words are original (perhaps related to feorh "life").

farm (v.) Look up farm at
mid-15c., "to rent (land)," from Anglo-French fermer, from ferme "a rent, lease" (see farm (n.)). The agricultural sense is from 1719. Original sense is retained in to farm out.