Floyd County, Iowa | Riverton - 11/21/2023 06:50
How does anyone on an old fashioned 50/50 lease do it?
When I had 50/50 leases (4 of them), they all were like this: Landlord and tenant pay for lime 50/50, tenant paid for application. The lime was prorated/depreciated over a 5 or 6 year time period, depending on the farm. If the lease was cancelled by either party before the depreciation/prorate time period was up, the landlord paid the tenant for unused portion of lime and application.
On the farms that were cash rented, I paid for all lime costs, and if the lease were to be cancelled, landlord would pay me for all unused lime and application.
That was here, and it was pretty common lease language, some others may be different. |
who pays for lime?
