Source: AgriLife Today
According to presenters, the single most important message conveyed at a series of Rancher Leasing Workshops culminated in Amarillo recently is “get it in writing.” Tiffany Dowell Lashmet, agricultural law specialist in Amarillo, stated that regardless if you have known the person all your life or are just meeting them, a written lease clarifies things. Writing things down can also remind both parties of issues or situations they need to agree on before they shake on the deal.
Issues and situations to agree on include:
- Forum clause
- Dispute resolution clause
- Attorney fee provision
- Setting a stocking rate
- Term of lease and cancellation
- What may be done on the property?
- Maintenance of fixed assets
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