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buying a piece of land with existing lease
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paul the original
Posted 5/31/2023 13:37 (#10250982 - in reply to #10250939)
Subject: RE: buying a piece of land with existing lease


southern MN
In some states the lease doesn’t mean much unless it is recorded. Without being recorded it is a simple lease between 2 people and not really attached to the land.

It would be for the current owner and the tenant to sort out, not the new land owner.

This all gets very detailed and lawyer words.....

Makes for hard feelings, the current land owner doing the selling is the one that screws up but rarely seems to get any blame and gets the extra income; the new owner seems to get the blame.

State laws are different but I’ve seen it this way in some cases for multi year leases.

A current lease this years portion would be different, the tenant has some rights for the calendar year.

I’m a simple dirt farmer, I don’t really know much. Other than it can get complicated depending on the state and how the lease was written and filed.

Paul
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