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Verbal Lease Deadline is Thursday, Sept 1, 2016 in Nebraska!

By
Real Estate Broker/Owner with Mike McCann - Broker, Mach1 Realty Farm & Commercial Land Broker-Auctioneer Serving Nebraska

That time of year is upon us for those of you who are still doing verbal leases. Show me the Money!! Mike McCann Nebraska Farm Broker!

Nebraska Law identifies March 1 as the start of the new crop season each year.

Nebraska Law also states that any changes to VERBAL Leases must be made and parties notified 6 months prior to the start of the crop season.

That would be September 1!   (Every single Year!)

I recommend to have any changes done already, but no later than August 31st each year.

If you have a Written Lease, refer to your current lease for when any changes or notifications are required to be made.

If you are still using a handshake verbal agreement but need a Written Lease for your farm, give me a call...but do it soon as there are less than 100 hours left to change anything for 2017. 

This year is critical as the low crop prices may affect the strategy in place for rent amounts all across the United States.

If you are in doubt...contact your local experienced Farm Broker or Agent ASAP!

Until Next Time...

Posted by

 

Mike McCann Nebraska Land Broker This has been Mike McCann...Nebraska Land Broker...Coming to you from the Farm Land of Nebraska and America!! Visit me at www.mikemccann.com to learn more about the agricultural and farm land for sale market. 

Many farms For Sale in Nebraska are not listed publicly...please call, text, or e-mail with your questions, wants, and needs!

Mike is your Ag, Farm, and Auction expert throughout Nebraska!

308-627-3700 and 800-241-3940 call or text me at these numbers or

mike@mikemccann.com for easy e-mail access! Mike McCann Nebraska Land Broker

 

Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Mike it's so interesting reading about how business is done in your area whether it be a written or verbal lease for farms. I didn't realize people still did verbal leases.

Aug 29, 2016 03:23 AM
Mike McCann Nebraska Land Broker
Mike McCann - Broker, Mach1 Realty Farm & Commercial Land Broker-Auctioneer Serving Nebraska - Kearney, NE
Farm & Commercial Property For Sale 308-627-3700

Hi Anna Banana Kruchten Thank you for stopping by! And yes...it can be crazy!

There still are handshake agreements out there. A lot actually.

Of course all is well with the Verbal Leases until there is a problem with who fixes the equipment, late payment, or a death.

All happen all the time. I would like to see ZERO Verbal Leases but not sure that will ever happen.

A Written Lease will not cover all issues but will cover the vast majority...while a Verbal Lease is a "my word versus yours" when there is a problem. And that isn't good!!

Aug 29, 2016 03:34 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Oh, that is so different than in NC, Mike!  We allow noting verbal here!  If it's not in writing WITH consideration, we don't have a deal!  

Sep 01, 2016 01:34 PM
Mike McCann Nebraska Land Broker
Mike McCann - Broker, Mach1 Realty Farm & Commercial Land Broker-Auctioneer Serving Nebraska - Kearney, NE
Farm & Commercial Property For Sale 308-627-3700

Hi Debe Maxwell 

You would think that Nebraska would require a written lease throughout...but that is not the case...and it is confusing for some and a open invitation to manipulate the lease by others.

Thank you for stopping by.

 

Sep 06, 2016 01:40 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Mike

Well verbal leases are news to me. It's so interesting how differnet the real estate business can be in other states, as well as in the nature of what's being leased or sold.

Jeff

Sep 06, 2016 01:21 PM
Roy Kelley
Retired - Gaithersburg, MD

This is very good information to share.

Some of us are not familiar with the concept of verbal leases.

Sep 19, 2016 12:22 AM