When it comes to buying or leasing agricultural land, having a clear and concise agreement in place is essential to ensure that all parties involved understand their rights and responsibilities. A well-written agricultural land agreement outlines the terms of the lease or purchase and can help prevent disputes from arising down the line. Here is a sample agricultural land agreement to help guide you in creating your own.
This agreement is entered into by and between [landowner name] (hereinafter referred to as “Landowner”) and [farmer name] (hereinafter referred to as “Farmer”).
The property being leased or purchased is located at [address] and contains approximately [acreage] acres of agricultural land (hereinafter referred to as the “Property”).
This agreement shall commence on [start date] and shall continue until [end date], unless terminated earlier as provided for in this agreement.
The lease/purchase price for the Property is [amount] per acre per year. Payment shall be made in [installments/monthly/yearly]. If the Property is being leased, the parties agree that the lease price may be adjusted in the future if market conditions dictate.
USE OF PROPERTY
The Farmer may use the Property solely for agricultural purposes, including planting, cultivating, and harvesting crops, and raising livestock. The Farmer agrees to use sustainable and environmentally responsible practices in their farming operation.
MAINTENANCE OF PROPERTY
The Farmer shall be responsible for maintaining the Property in good condition and repair, including any necessary upkeep of buildings, fences, and other structures located on the Property. The Farmer shall also be responsible for paying all property taxes, insurance, and other expenses related to their use of the Property.
This agreement may be terminated by either party upon [notice period] written notice to the other party. The Landowner may also terminate this agreement at any time if the Farmer fails to comply with the terms of this agreement. Upon termination, the Farmer shall remove all improvements made to the Property and return it to its original condition.
This agreement shall be governed by and interpreted in accordance with the laws of the state of [state]. Any disputes arising under this agreement shall be resolved through mediation or arbitration.
IN WITNESS WHEREOF, the parties have executed this agreement on the date and year first above written.
[Landowner signature] [Farmer signature]
Creating an agricultural land agreement may seem daunting, but having a well-written agreement in place can protect both the landowner and the farmer. It is always recommended to seek legal advice before entering into any agreement to ensure that all terms are fair and legal.