|
west central Iowa | Many farms sell subject to existing lease here, several coming up now. The ones I have looked at the buyer will get half of this year's rent and the lease has been terminated so buyer will have full farming rights next year. Typically leases here can be terminated up until Sept. 1. So if you buy and it close by Sept. 1 you can terminate the lease and farm it next year if it is a one year lease. I believe a lease is still binding even if not recorded. | |
|
buying a piece of land with existing lease
