A farm lease is a document which outlines the terms and conditions that will govern the leasing of a farm to another individual or organization for a limited period of time. It is a legally sanctioned document and hence, especially important as a single breach of contract or disclosure of facts can lead to severe repercussions. A farm lease must include a number of aspects into the document and these must be incorporated into the farm lease by a professional who is well versed with the legal terminology a lease document uses. Some of these aspects are as follows:
- Personal and professional information about both lessor and lessee.
- Area of land to be leased as part of the farm lease. Often, the renting of an area for farming also includes residential quarters. These details must be very particularly mentioned.
- The initial slew of payments to be made must be mentioned. The monthly, annual or quarterly rents to be paid by the lessee must also be produced in detail.
- The purpose for which the farm land is being leased must be mentioned so that the land is not used for unjust purposes.
- A farm lease must also specify the time period for which the land is being leased.
- The details of the land, like ownership papers, tax papers must be filed along with the farm lease.
- The signatures of lessor, lessee, advocates, and witnesses must be added at the conclusion of the document. This shall lend it credibility and authenticity.
Thus a farm lease is an extremely important document which must be given the due consideration it deserves. It should be clear, cogent and precise and complete care should be taken to keep it free from inadvertent errors. All the information should be thoroughly checked.