I want to make sure that those who may not be aware...It is that time of the year to start thinking about your Farms that you Lease out in Nebraska in regards to the leases.
If you...the landowner... have a Lease in writing...do you know when the deadline is for renewal of the Lease? If not, I strongly suggest you review it. I know...your property manager will take of it...unless of course he is on vacation or has your file buried under someone elses.
Why not be safe and smart and review the lease yourself and make sure.
Now...for those of you who do not have a written Lease...of course you are aware...or should be aware that in the state of Nebraska the Verbal Lease Renewal date is September 1. Are there any changes needed to be made? If so, those need to be in place and discussed with the tenant by August 31.
If you....land owner or tenant...do not have an updated Verbal Lease in place by September 1 for any reason...death, illness, vacation, can't reach the tenant, etc....the previous year Lease will take precedence for the next crop year. If the previous year Lease is Auto Renewed...neither party can cancel without the other party agreeing.
Do your self a huge favor and get your Lease in writing.
If you still think your handshake agreement will hold up...at least read the attached article.
Call me if you have questions of any kind on your Lease or if you need a Farm Manager or Auctioneer!!!
https://www.linkedin.com/pulse/verbal-leases-nebraska-farm-land-due-august-31-mike-mccann
Until Next Time...
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