Finding quality farmland to buy can be challenging, which is why many landowners and farmers consider leasing as a favorable alternative. Doing so offers many benefits to everyone involved, as long as the paperwork clearly stipulates each party’s responsibilities and expectations. The lawyers at The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer, serving the residents of Wahoo, NE, since 1893, have extensive knowledge of real estate law and help clients eliminate any misunderstandings. To give you a sense of what aspects matter, they list a few terms the documentation should include.
An agreement will need to give a precise description of the land that is to be leased along with maps and a survey when necessary. It should describe the total acreage of the property, the portion the lessee will use, and boundary lines shared with neighboring properties.
It’s crucial for landowners and farmers to reduce their liability for any disasters that may arise during the course of a lease. Thus, both parties should carry insurance coverage to mitigate financial risks. Lawyers advise that the agreement should touch on what kind of insurance to purchase and the required limits.
How the lessee is allowed to use the land should be carefully spelled out to avoid confusion. The document may specify that a farmer can plant crops and must use good agricultural practices. Some leases limit users to a particular type of crop rotation. They may also include restrictions, such as using pesticides or cutting timber.
Any land lease agreement should have designated start and end dates. Provisions regarding renewal and extensions can be written in as well. There should also be terms stipulating the right to terminate the agreement if the conditions of the contract have not been followed.
If you are considering signing a lease agreement as either a landowner or farmer, have a lawyer review these terms to ensure compliance with contract laws and minimize the risk of future disputes. The legal team at The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer will help you with negotiations and identify issues you may not have thought to include. Contact them at (402) 443-3225 to schedule a consultation, or visit their website for additional information about their background and expertise.