AgTalk Home
AgTalk Home
Search Forums | Classifieds (1) | Skins | Language
You are logged in as a guest. ( logon | register )

Land rent
View previous thread :: View next thread
   Forums List -> Crop TalkMessage format
 
KDD
Posted 5/22/2020 08:39 (#8273078 - in reply to #8272703)
Subject: RE: Land rent



Leesburg, Ohio
The problem in these situations is that most non-farm-related people assume, when they hear the term "rent", that the rental period is for a period of time measured in months, when in reality, the period of time for renting a farm for a crop should be measured in crop seasons, NOT months. That should probably be spelled out in the written lease, and would eliminate these issues.....hindsight....

If it were for corn or beans, it would be clear to me that whoever owned the land during the crop season should be the one who gets the value from the land for that crop season. So in that case, the new buyer (you) own the land during the crop growing season, so you get the rent (or in this case, no rent is due to the seller), since it was sold before the crop season started.

In this case with wheat, the growing season started in the fall while the former owner still was in the picture. So that muddies up the water. So maybe for wheat, pro-rating makes sense, if done by the proportion of who owned the land from October 2019 through June/early july 2020. That would probably mean you (the new buyer) would owe 2/3 of a season's rent, since the former owner owned it for 2/3 of the growing season?

Usually in the case where there is a growing crop on land being sold, the auctioneer MUST specify who gets the growing crop. Sounds like an auctioneer who didn't know what they were doing??

Top of the page Bottom of the page


Jump to forum :
Search this forum
Printer friendly version
E-mail a link to this thread

(Delete all cookies set by this site)