Important Facts About Land Leasing

The prices of property and land have shot up to such high levels these days that buying a property or a land seems to be a mere dream to a common man. In such circumstances, common man shifts to leasing land rather than buying and hunts for genuine land for lease .

Land Leasing

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Land Leasing is highly beneficial to industries as it leads to reduced costs of land acquisition. Industries can hire land on lease and after a certain time period, the lease agreement can again be negotiated.

Further, land leasing will also help corporate farming under which corporates can take large pieces of land on lease and do farming. By doing this, agriculture sector will get entirely professionalized.

Land leasing will also lead to enhanced social mobility as the non farmland owning groups can benefit by taking land on lease and can generate more income.People with small landholdings can lease out their lands and shift to other occupations.

Agriculture land for lease is in great demands these days to meet the needs of farmers.
Even though leases may differ in forms, a lease may be defined as a contract that is implied through the parties’ actions, enacted through a written document or made through verbal communications.

Land Lease

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In a lease, the landlord becomes the lessor and the tenant becomes the lessee. In most of the states, the same rules dealing with landlord-tenant law will apply to the agricultural leases.

But many states have adopted provisions in their landlord-tenant laws that will apply specifically to agriculture, like providing for a landlord’s lien on crops when the tenant is unable to pay the rent.

In order to form a valid lease, the following elements must be included in the agreement:

(1) The boundary and extent of the property to be leased;

(2) A specific time period on which the lease will run

(3) A specific rent rate.