A Land Rental Agreement, also known as a "Land Lease" or a "Ground Lease," is a type of Lease Contract that allows one person (called a tenant or lessee) to use a piece of land owned by another (called a landlord or lessor) in exchange for rent.
A Land Lease is similar to a traditional Property Lease, in the sense that there are both residential and commercial agreements. The tenant may want to develop the property and the lease gives this individual the right to take possession of real estate comprised of soil, thus permitting the tenant to use it for various purposes ranging from agricultural to commercial.
We offer multiple Land Rental Agreement templates that you can use if you need to seal your verbal agreement with a binding document. The land rental contracts outline expectations and define the roles of the parties, which gives them both a legal footing in the event of a breach of contract in the future.
If you need a Land Rental Contract, you can download it from the links down below. Renting implies a shorter term of the lease. It is a form of lease where the tenant pays rent for the usage of a vacant asset (lake, vehicle, house) owned by the landlord.
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It is quite possible to create a clear and effective document for your real estate property by using a template. The usage of specific nomenclature when referring to the individuals signing the contract is important, just like determining the duration of the lease in a clear and concise manner. The absence of this information annuls the validity of the document. Add any relevant clauses concerning profit-sharing in the event the tenant pays you interest off the land's profits.
The parties’ information contains the usual who, what, where, and when, including the specific amounts in acres, intended use of the land, and legally recognized description, like metes-and-bounds method, photos, diagrams, and the like. Proceed with the why and how, meaning how the rent will be paid, either in a lump sum or based on the yield of crops (crop-share rent or sharecropping). You may wish to add clauses related to the access and facilities, providing information on the right of the landlord to enter the land for special reasons, possible gates, roads, or structures the tenant may or may not use, and so on. Yet other useful clauses may be an agreement on possible amendments, choice of law, government regulations, a clause on dispute resolution, improvements, and maintenance, and finally, insurance and liability. Some Land Rental Agreement templates provide clauses such as mortgages, permits, mineral or subsurface rights, subletting, use of motorized vehicles, utilities, security deposits, severability, surrender, taxes, and termination details in case the tenant fails to pay rent or maintain the land.
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